-- 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
“Jobs and things”? For goodness sakes. How about more cops. Support for the cops. A court system that punishes bad behavior. A prosecutor who doesn’t think that she is a member of the bad guys’ posse. And a schools system that even half way educates students. We have none of that in Chicago right now. And kudos for the Pastor calling out parents to do their job with their kids.
A good start would be to not have teenagers running around until dawn and leaving toddlers in parked cars at 3:30 am.