-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
I used to enjoy reading Stephens at the WSJ until his TDS and moral superiority overtook what I thought was a predisposition to rational and logical thought. Dumped the WSJ and Trib years ago though when I took the stand of not enabling Dem propaganda and journalistic corruption.
Same for Maher. When he’s lucid and thinking critically and not emotionally unhinged, he can reach sane conclusions. It’s not often though.