-- 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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This reminds me of the story of my little hometown in IL. Many years ago I believe it was in the 40’s the Barnum and Bailey circus train wrecked just outside of town. Immediately after and over the next several months, many animals were shot and killed on the streets. The famous lion was stuffed and has been the mascot of the local lions club ever since.
times sure have changed. Imagine if you will what our founding fathers would do to all these seditious politicians. Tar and feather, the rack, pitchfork? Most Americans have NO perspective.
Look around you alderman. Too many weasels and rats in the City Council. Clean that ou first
Too many rabid politicians running around. Easy to tell if they have rabies. Mention tax increase and they foam at the mouth. Mention reforms and they go into hiding.