-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Government tax policys never workout as intended. Some locality will always have relatively cheaper alcohol, tobacco and gasoline.
In Michigan for example there is a bottle deposit law. On the flip side, Canadians from Ontario can save a bundle on groceries shopping and filling up at Detroit area Costco’s and Sam’s Clubs. Before covid I was amazed by the number of cars with Ontario plates.
In further news, an long lasting outbreak of male chastity would bankrupt the oldest profession….