-- 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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Johnson and his staff couldn’t operate a lemonade stand.
Even a math dimwit like Mayor Johnson has, maybe, figured out that a really well run private grocery store nets 3%. A not so well run, government grocery store, will run deep in the red.
Actually, operations such as Kroger do net 1%. 3% would, in my experience, be an outrageously successful grocery store.
City owned grocery stores will have no food on the shelves. City needs to pay political cronies and fraudsters first, before stocking shelves with food. The overhead for these stores will be enormous.
To open and run a grocery store takes money. He doesn’t have any to spare.