-- 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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This article is misleading because its not really racial inequities at play here, but rather, class issues. Poor people all across the state have similar problems. It just so happens that more black people and hispanic people as a relative percentage of the population are poor than white people but in raw numbers there are still more white people with these ‘racial’ inequities. Its a bit misleading and unfair to present these purely as racial issues as if there is some mysterious and hidden statewide racist policy to promote racial inequities. There isn’t. it’s class.