-- 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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Any connection between this and Kroger’s being bought out by Albertson’s?
Hmm, could this lead to pharmacy desert in undeserved communities of color?
No one goes to jail; it is only stockholders’ money. Ruined lots of lives and families for a small profit. Still going on now that they are addicted. More to die like it or not.
The government ends up with the money, so they profited also.