-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
I’ve had two appointments at a DMV in the past four years. The first was to get my REAL ID so I could fly on a plane days before the pandemic shutdowns. They herded us through the facility fairly quickly given how long the lines were. I went on one of the special REAL ID days. The second time was a few weeks ago after an appointment. Holy crap, I was surprised quickly it went. I was in and out of there in less than an hour after visiting several of their various different stations inside. I was shocked at… Read more »