-- 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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Let’s see, 6 months ago, minority employment, mental health and food security were progressive buzz words.
I guess irrational fear of sickness and death are enough to make them ignore the consequences of non science based lock down policies while supporting abortion service and recreational THC sales.
This is the canary in the coal mine. Food shortages due to production shut downs will become a huge in the upcoming months. I’m glad I stocked up on perishables as soon as I saw the videos of the chinese authorities welding the doors shut to entire 20 story apartment buildings in wuhan. But I fear the social unrest when hungry mobs wander the streets. They’re armed, dangerous and hungry. This will not end well. Suddenly rural living seems more attractive.