-- 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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The yellow coward Jabba leaked it to a bunch of union sycophants at the Slum Times.
Exclusives pretty much ensure puffery. Even so, there’s still very little data or modeling in this article. At a minimum though, he’s now backtracked on claiming Illinois will peak in Mid-May. I guess they couldn’t find even a remotely credible model to back that up, other than COVID Act Now.
The catholic church had mass only in latin for 1,000 years after people stopped speaking it. In ancient Mesopotamia, the only people who could read were the scribes in the temples. In 21st century, Illinois, the only people with access to red death data are select few government workers and their lapdog access journalists. It’s been 5,000 years of recorded history, and nothing changes.