-- 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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In theory, wouldn’t people buying weed now buy less alcohol? Otherwise, they’d be high a bigger portion of a given day and not someone I’d like to be around, especially on the road. If my theory is correct, IL pols over-estimated the net revenue increase the state will get in taxes. That’s a common phenomenon in IL.
Now that people are circulating their legal weed receipts across social media, everyone’s commenting on the outrageous selling price of legal pot and the outrageous taxes charged on legal pot.