-- 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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And the last hot air fest concluded what? And took what measures based on the conclusions? And now seeks to fix what they didn’t fix the first time? Guessing the national committee will be conveniently held near a venue Beyonce is performing at.
Gotsa have a blue-ribbon task force that includes “community organizers” and “faith leaders” as well as a few politicians to meet and study the problem, have a few dinners and drinks. Then meet with some learned PhD consultants, have another meal…perhaps some drinks. Then the entire crew needs to go on a field trip to another city who is having the same issues for more discussions and meals and hotels. Once finished with the field trip, there must be an education conference someplace in the US or elsewhere that can be attended by the task force (i am thinking Vegas)… Read more »
Another waste of money.