-- 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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SEIU members still paying dues, which they don’t have to, brains must be mush.
The only time that I saw a SEIU rep when I was, unfortunately, a union member was at election time. Some big, obese guy with a pinky ring and a shirt unbuttoned halfway down to expose his hairy chest and several gold chains came from Philadelphia to check in on us. Hadn’t seen him before, never saw him again. That was all I needed to know about that union.