-- 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
“We need to focus on three P’s: people, production and partnerships,” he says. He could have made it just one P — Platitudes. What a hopelessly vague and meaningless column.
How can we win the economic contest with China, get the hell out of China.
U.S. consumers have the real power. Stop buying Chinese made stuff except where that’s not realistic.
What Chinese made stuff is the only choice to buy since all alternatives are unrealistic?