-- 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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In other news, the Illinois crime rate doubled overnight. Law enforcement officials remain baffled.
this is like liberal paradise… makes you think doesn’t it
How many of these people will never be found again. If I were furloughed, I would be less than 24 hours away from living in just outside the jungles of Belize. Supposedly lots of north american fugitives hanging out there, they speak english, it’s a third world country, its easy to disappear into the small local vilages