-- 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 not forget the added bonus of brownouts as the quantum park sucks up electricity like a politician sucking up tax money. Perhaps we’ll just get used to the power going off at dusk every night as still happens in some countries or making our own by peddling a stationary bike as in “ “Soylent Green “.
Interesting photo of “summit” with all the white folks in audience?