-- 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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I have known my good friend Lori for a long time. She has tackled this challenge as she has faced every hardship in her long and ineffective career. Talk tough at a photo op, call some mish mash word salad a plan, spread money to non accountable “organizations,” and call the terrible results a victory then walk away.
What plan? She surrounded herself with dumpster fires. What plan? Lori theatre with a photo op of blowhards and dandy thieves, authentic native costumes with waste basket hats. Ya know she was a federal prosecutor and equity partner, like those qualifications make her the ideal person for the job. She’s a rabid windbag.
Is this a suprise to anyone?
Well this can surprise absolutely no one. Throwing money at something that is complex and, in all honesty, unsolvable, was just a delay tactic meant to buy some time. Here’s the inconvenient truth. We have a group of violent offenders who place no value on human life, including their own. They fear absolutely nothing, care about nothing, and will do just about anything, to anybody, just for grins. You either lock them up or deal with the damage. How’s it going so far Lori? JB? Lil Kim?