-- 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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Sounds good for Illinois businessmen!
The state is really pushing the social justice angle here. First they offered priority access for minorities to licenses. That didn’t work. Next, Light foot suggested the city suggested a city owned co-op to grow the weed. Then today I hear that the state is going to offer low interest loans. What’s next, free product to minorities? Isn’t that what the CIA did in the 1980’s when it smuggled crack into the inner cities? Peddled free goods until they got hooked?