-- 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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Unencumbered from mayoral responsibilities, I think Emmanuel makes some good points about the nature of elitists (ironically, he is one of them). And he was in the Obama administration, and was involved in making some of the pro-elitists decisions, such as bailing out the bankers in 2008-2010 and the proliferation of crony deals (Solyndra, etc). . But he has no place in the Democratic Party any longer. He states that socialism isn’t the answer? This isn’t where a significant majority of the Democratic Party is today, and I see no future for him in politics if he decries socialism (even… Read more »