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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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Good article. Need To Escape Socialism? Come To Florida! | ZeroHedge One could cite many other blue states, including Illinois, as evidence of liberal mismanagement, and other red states like Texas and Tennessee for proof of sound conservative governance. The fact is that all human beings want much the same thing: safety, security, prosperity, and freedom (including freedom from government restrictions and high taxes). Today in America, Florida offers that freedom. New York and California do not. In America, the red states are keeping the American Dream alive. Personal liberty includes freedom from government confiscation of wealth, whether that confiscation takes the form of Soviet-style… Read more »
The problem with migration are the people moving who feel it’s their freedom as well to pack up their liberal politics. Look no further than places like Nashville. Or even Miami as an example, who elected their first liberal woman mayor in it’s history. They destroy whatever is in their way.
Mayor BJ will never break with the CTU and their misplaced priorities.
The CTU is his Master!!
IMO replace boat in the below definition with the CTU!!
A “boat” can be metaphorically described as a financial “black hole” because it represents a, consistent, and seemingly bottomless pit for expenses (fuel, maintenance, insurance, docking fees) that often yields no monetary return, much like matter disappearing into a singularity.
What a well reasoned article. The one shortfall of it is that it does not state the obvious. The vast majority of Chicagoans are stubbornly, grudgingly and deeply uneducated and ignorant. The only thing they understand or care about is bread and circuses. The lapdog media/propaganda arm of the demorat party inundates them with bears, cubs and bars. That’s all they care about or want to know. The city is burning down around their ears but let’s focus on the bears next stadium. Half the city is illiterate and is just interested in free stuff. When the vast majority of… Read more »
You identify a major flaw in “democracy” when the term is defined as a political system where people elect their leaders. The people you describe get whatever their information they ingest from sources that are biased AND they [living and dead + legal and illegal] vote their self-interest with a short-term outlook. Moreover, there are few alternatives to this sort of democracy. Nor are there enough judges and jails to deal with an increasing number of violations of the rules that we see “on paper” … that is, laws, regulations and election administration. These aren’t new problems: LBJ in the… Read more »
Our system, whether you like it or not, was based on Judeo-Christian morality. Without that, the system doesn’t work, because you can’t hire enough police or build a big enough government to control it. We have turned our back on God and that won’t end well.
The laws of economics are immutable, and Chicago is about to find that out.