-- 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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Dumbo finally realizes that he is the head of a sovereign state in a union of sovereign states. Better now than never, as he’s spent the last month whining, yes whining like my three year olds, that the federal government isn’t doing enough for him. When if he had paid attention during his constitutional law class, instead of visiting the law school cafeteria for second helpings of sloppy joe, he would have realized what powers he had as a head of a 13,000,000 resident state. This guy is just an idiot newbie neophyte.