-- 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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A+ plus from John Kass, kudos for calling out the cultural Marxism in society today. He is the only reason I subscribe to Chicago Tribune. If they mute him, I will be gone. I hope he reads Wirepoints.
Cancel your subscription today. You need to stop feeding the beast. You can still read Kass online. Just load up his column and when you reach the paywall, go into ‘reader mode’ on your browser (look it up). Then hit refresh on your browser and the column will appear ad free, paywall free on your screen. This is how you stop feeding the beast. Kass will be just fine when the Trib goes under. It’s the hacks like Zorn that will be grooming my dog.