-- 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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“Centreville is a town of about 5,000 people, with a median income of roughly $17,440, according to the U.S. Census Bureau. Ninety-five percent of the residents are black. It’s the poorest city in Illinois, according to the bureau. The town sits in a low-lying area with a high water table.” Let’s be honest here, we have a country where people are free to make their own decisions, true economic freedom. It’s not like Bernie’s USSR, where the government awards concrete flats to residents, and those with more clout, they get better flats. In the USA, people can buy and live… Read more »