-- 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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Cortes is a great guy and really smart and he understands that the progressive wants a ‘year zero’. We are facing an existential problem as a country when half of us (and even larger percentages in urban areas) feel no connection to the history of our country, or even western civilization. Really, the only thing that would possibly unite the country would be a Chinese invasion with street battles, and even then, half the country would welcome our new communist overlords.