-- 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 noise from critics “ is what the rest of us with both feet on the ground and our heads out of .. the sand call the truth.
Whatever these groups are smoking please let me buy some! They got some good sh..!
Talk about carnival barkers.
Clark W. Griswold perhaps said it best,
“ we are in a nightmare from hell”.
One thing that makes our life easier here is that, with many stories like this, the jokes write themselves.