-- 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
This argument literally stupid, one of the stupidest things I’ve read in a while. He says he doesn’t even know who the usurious bond holder are but its unfair that they are charging the state interest when ‘children’ are suffering. He wants them ‘exposed’ aka doxxed because they lent the state money. He’s basically asking the state to default on its debt to pay for the children. What a complete moron. This is why our state is so screwed up, when people like this actually think this way.