-- 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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These are depressing statistics. But on the bright side, there are lots of abortion clinics and cannabis dispensaries!
The Peoria Journal Star and every local Central Illinois TV station splashed the “everyone’s a racist-n-61605 is the worst zip code in the country” 24/7 Wall St report all over the news for weeks. Intended, of course, to persuade one and all that we’re really institutional racists, we just didn’t know it. Of course, those of us familiar with the history of Peoria’s south-side have within their family’s memories a time when that area was full of working families, small shops-n-groceries-taverns serving all of the folks walking their lunch pails to union jobs at businesses that lined the downtown streets.… Read more »