-- 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
This Bloomberg article has robe one of the most inane, rambling, pointless pieces I have see. It is like a brain dump or a retarded squirrel. It flits form one disjointed point to another, laced with bias masquerading as a coherent piece.
My guess is, given the source, and agenda driven media, that this is some sort of set up for support for universal income.
What a bizarre article. If anyone can figure out the point, let me know.