-- 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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Republicans subsidize and support the fossil fuel industry. It’s nothing more than a giveaway to our most important industry, because without the energy industry, we’d all be living back in the iron age. Democrats do the same thing for the energy industry but they support more ‘upscale’ and ‘luxury’ forms of energy that cost more money and are less efficient, which is pretty much how they handle everything in life, from buying expensive Starbucks instead of the local coffee shop down the street, to buying luxury expensive imported cars instead of less expensive american made vehicles, to buying throwaway designer… Read more »