-- 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 is just a ridiculous article. The town is in a floodplain that experiences almost yearly flooding. The plan, let’s spend $23 million to fix the sewer system that’s going to be destroyed after the next flood. Oh wait, it’s a majority run black community so it must be done or the ugly “wassist” word will, be uttered. How about having the government buy out the residents, tear down the structures and have the people relocate to higher ground like it’s been done dozens of times before? Nope, cant do because that would be “wassist”.
Government buy out residents and move them to higher ground, absolutely and positively correct your comment makes sense, but remember who is in Springfield and Washington.