-- 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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Democrats in IL would prefer answering to the Chinese rather than a Trump Administration. My spouse went out with friends several days. Most members of the group have incurable TDS and honestly believe that Trump will end democracy and become a dictator. These are well educated and competent people with good jobs and high incomes, who completely collapse into babbling nonsense when Trump is mentioned. It’s like TDS is a prion disease or something, causing incurable brain damage to anyone with it.