-- 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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will JB and the Priztskers be offering up any of their Hyatt hotel rooms to fight the fight? how many fed bailout $bucks$ will JB and the Priztskers get (who knows how many $ are sheltered offshore).
likewise, how many fed bailout $bucks$ will the comrade Sharkey family be cashing in on for their Royal Caribbean Cruise Line family business–who’s ships are registered in Liberia, pay no taxes, make use of federal resources like coast guard when they get in trouble, and treat their mostly foreign staff like salves (lot of Filipinos)? where’s the outrage on the left