-- 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 Milton Friedman said, if you put the government in charge of the Sahara Desert, in 5 years there would be a shortage of sand.
One advantage of printing all viewpoints, as we do here, is that the jokes write themselves.
Like this one..
Doctor tells his patient-I have some bad news for you and some REALLY bad news.
Patient-What’s the bad news?
Doctor- Sorry but you have a little less than 24 hours to live.
Patient- Then what can possibly can be the REALLY bad news?
Doctor- I couldn’t get a hold of you Yesterday!
With the food that will be offered via the public grocery store most of the customers will hear this from their doctors within a few weeks.