-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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FFS people! Go buy it in Indiana and stop supporting these criminals! Just another slush fund for them!
Maybe, just maybe, if each and every Illinois citizen would quit whining and do their fair share by purchasing and consuming more and more cannabis, then we could pay off all of pension and legacy debt and unfunded programs. OK, go consume a couple ounces of skunk each week, be proud to do your part and pay those 22% taxes.