-- 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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Back in the 70’s…when we owned our first home in the South Suburbs of Chicago….we went to the waste yard off the Calumet Expressway….dug this stuff up….took it home…and created a new garden with it. We were young and it sounded so eco-friendly, at the time. Nu-Earth, indeed!!!
Ironically, sewage sludge is the new fertilizer now that countries like the Nether-lands and Canada are banning nitrogen for ‘climate change’. Hope you like the taste of SSRIs with your soybeans !