-- 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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As someone told me a long, long, long time ago, nothing good happens after midnight.
Why not just manage the bars the way Cicero did in the early 70’s. They would close and no drinks would be served around 6a while the owner mopped the floor. Only closed for about 10-15 minutes. Serving drinks and mopping the floor was considered bad form for the particular clientele.
HOW ABOUT PUNISHING THE CRIMETHUGS — INSTEAD OF THE BUSINESSES?