-- 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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Illinois is the Sin City of the Midwest. Legalized dope, widespread gambling and unlimited abortions. These “activities” draw only the best and brightest, right JB? Next up is legalized, and highly taxed, prostitution!
If we’re capturing bettors who gambled via other means (mostly illegal or offshore), then good. If we’re creating more gamblers, all we’re doing is shifting money from other sectors of the state economy to gambling outfits, not to mention the other societal issues that follow gambling.
Who is betting? I don’t know a single person who has placed a sports bet.
You probably do know people who have. They just won’t admit it. I signed up for a bonus, it was risk free. Casinos just want to set the hook. Cashed out most left about $50 just to make small bets every now and then.