-- 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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Hmm, if importing the 3rd world by the millions is the way forward we’ll all be rich.
A short drive through the back of the yards, little village, new city, highwood or round lake is a sad picture of an impoverished, third world barrio looking future. The interviewee fails to mention that previous generations *built* the neighborhoods they now live in, and they’ve been poor stewards, at best, and try to make their new neighborhoods feel like the old country. They’ll still remitting money home because America is not their home, Mexico is their home, they are economic migrants milking the US economy for free health care, they pay no income tax, they have no car insurance,… Read more »