-- 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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Why was this not done decades ago. When Biden was VP he did nothing to control RX prices. Medicare could not negotiate prices with the pharmaceutical companies and I’m sure that Medicaid also cannot. Look up your medication cost without insurance and compare it with the price in Canada-Mexico-India/etc. Next to nothing there but not here. How can Mark Cuban negotiate prices in his company but the state cannot? My guess lots of kickbacks. https://www.markcubancostplusdrugcompany.com/