-- 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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I am totally in favor of this ordinance. When I eat at McDonalds with the kids, it’s so much easier to walk up to that big screen and touch the items I want to purchase instead of trying to convey it to some employee who tells me with look in their eyes to check my privilege at the door. The sooner they get rid of $15.00 employees and replace them with robots that make all the food, the better.