-- 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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Mendoza was a professional soccer player under the name Pédé (pronounced pā dā).
It amazes me how much post WWII politics has created the “career politician.” Our federal government was set up with the idea that politicians were part-time citizens, who were to be well informed on private matters of business, wealth, the law and civics. Many politicians of yesteryear were something else first, and then decided to get involved in leadership of the country or their local domain. I know that this concerns local government, but it seems that the local eventually follows the national (or is it the other way?). Today, we have kids getting out of college and immediately thrusting… Read more »