-- 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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Is anyone surprised on how low some people will go to get money?
The usual suspects. PPP loans, social services scams and now this. If some folks put as much energy into honest work as they did into getting over, they’d be titans of business and industry.
The Chicago archdiocese, looong ago gave up any modicum of relevance.
The priests and who ever covered up for them should all go to jail.