-- 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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The New York Times published an article in the January 9th edition of the paper about how the president of South Korea raised taxes and the minimum wage to increase economic growth. Economic growth is declining and unemployment is increasing.
https://www.nytimes.com/2019/01/09/business/south-korea-economy.html
LOL – The guy from Illinois Working Together sure has a hard-on for Minnesota. Not sure why he hasn’t moved there yet. Maybe one of these days someone will take off his blinders and show him Tennessee.