-- 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 irony is that Durbin was for the war before he was against it. He is such a slime ball.
The elites have refused to learn the lessons of history for decades. Their hubris allows them to believe that they will succeed in their “progressive” plans, when lesser mortals have failed. They think that their virtuous intentions are the only thing that matters. They are already looking for the right spin on this disaster, instead of taking a good hard look in the mirror.