-- 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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The first attempt to provide reparations to former slaves occurred on Jan 16, 1865, when Union General William T. Sherman issued an order that freed slaves should be given 40 acres of land seized from slave owners. This order was issued while the Civil War was still in full battle with things going very badly for the south. After the Republican President, Abraham Lincoln, was assassinated, and before any of his statues had been torn down, the Democrat Vice President became President. Shortly thereafter he returned those lands to their previous, slave holding owners. This wasn’t the first time a… Read more »