-- 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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My backyard is available, somebody make me an offer.
Hmm, a modular nuke for my modular home…..
Insurance does not cover nuclear explosions by accident or on purpose so I will find an old school desk we used to hide under in case of a 20 megaton thermonuclear hydrogen bomb goes off outside my window. The craftsmanship and workmanship in the old days was amazing to protect me from the blast. LOL