-- 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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Good!
Thank God. That’s the Green New Deal for IL, and an attempt to entirely remake the economy around renewable energy, social justice goals, etc.
Good bye petrochemical fertilizers, good bye factory farming, good bye exurban and rural communities that rely heavily on cars and trucks, good bye low density housing and the single family home. Soon enough only the rich or politically connected will be able to afford to eat chicken, drive a car and live in a house. For ‘social justice’ and ‘environmental reasons’ of course. I say this only in jest of course but that’s literally where the ‘base’ of the environmental movement is right now. They want to ban out gas power tools for goodness sakes, and plastic forks, and single… Read more »