-- 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
Is this the only future Illinois can hope for? Casinos, Lotto, sports betting and pot sales revenue? There are a ton of empty storefronts. Legalize whorehouses. A dozen futons, some Johnny Mathis records, liquor and pot. The build-outs would cost next to nothing. And, you got a product, you sell it, and you still got it! Our rat politicians know all about prostitution. This is a natural. Even governor slobbo could run it.