-- 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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No worries, these Bolsheviks will get their just deserts, when they graduate with tens, or maybe even a hundred thousand dollars in debt, for a worthless degree in leftism. I used to get upset about student loans, because I had large balances, myself having come from a poor family and only got a partial poor kid scholarship; but now that my own loans have been paid off, through considerable sacrifice and hard work, I feel zero sympathy for these leftist Bolsheviks who themselves graduate into debt serfdom working for the man. Let them destroy their own financial future. They all… Read more »