-- 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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When Dick and Tammy speak, nobody listens. Mismanaged State of Illinois needs another break, so our two worthless wonders try to make it sound like this impacts many states. If it did, this would already be a done deal. We rate these senators “mostly worthless”.
I want to try that with my mortgage.
Dear Lender,
Please don’t charge me interest on this loan that I agreed to pay. I know I signed the paperwork and knew the terms, but I’ve handled my finances badly and need a break.
Yours truly,
Your mortgagee
Normally I’d agree with you, and in many cases I do agree that mismanaged finances is the cause of financial problems, but lately, it does not seem to be that way: The government imposed COVID lockdown policies of the past two years have devastated small business owners including gyms, studios, boutique shops, and especially restaurants and catering. Few people can survive for two years off fumes and not feel the pain. The most recent indoor vaccine mandates causes even more economic destruction – I haven’t been out to eat at a restaurant since December because of them, and I’m so… Read more »
Debstor, you misunderstood my post – I was juxtapositioning a homeowner’s plea with the state of IL’s request to stop interest on IL’s loans.
Having scraped by with three kids during the 70s I’m well aware of the hardships and sacrifices young (and old) families face, especially now.
And yes, the profiteers at the top of the pyramid are shameless and should be better regulated. In addition to the Federal Reserve pirates, Ms. Pelosi and Governor Pritzker come to mind.
Thank you for clarifying
But I think we can all agree that both our senators suck.
Sure, some of experts here ought to seek public office.