-- 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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We just need a progressive income tax so the rich can pay their fair share.
21 billion only because of our stupid prevailing wage, workers comp and labor rules. In Indiana or Kentucky that same 21 billion would get you twice as much road in half the time!
Now we will hear Ram and Co. preaching the need for legal weed, legal synthetic drugs, opioid exchanges, legal gambling in every town, and maybe legal prostitution.