-- 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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It’s disingenuous to say that the laws targeted minorities unfairly. The laws targeted everyone unfairly. The red camera lights , booting and parking tickets made Chicago an awful place to live for everyone. I’m a white guy and I got the boot once for tickets I didn’t even know I had. t’s just that a lot of people, most of whom are of one particular minority group, choose to violate the rules more often than other groups and then also chose to not pay those fines either. But the policy itself is not racist. it’s like saying mostly white people… Read more »