-- 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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Whenever the price of gas starts to drift lower there’s always an excuse to drive them back up. Sometimes it’s geopolitical unrest, that’s always a good one. Then there’s the offshore storms that might just destroy a drilling platform or two. Oh mercy me! And last, but not least, we have the old standby of unscheduled maintenance at a nearby refinery! Oh boy, that’s pure gold isn’t it. Some guy clogged a toilet in the restroom and the whole refinery is shut down. In a few months we’ll get the “summer blend” excuse. It never ends.
Same old bullshit year after year.
Power outage? How convenient. Just put the plug into the outlet and your good to go.
The more people pregnant the more abortions.