-- 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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Gotta laugh when the unions overwhelmingly supported Dementia Joe/Heels Up Harris for the White House jobs and only days after taking office biden signed orders putting thousands of union workers out of jobs. Priceless!
The crooks are lining up!
The economic and political power of the unions is magnified by the support they give to friendly legislators. Those who oppose this sort of extortion have needed, for decades, to organize in opposition. That hasn’t happened and probably won’t. It’s a pity that opponents are either so well off that they can be indifferent or so discouraged that they are content to surrender. Patrick Henry had it right:“They tell us, sir, that we are weak; unable to cope with so formidable an adversary. But when shall we be stronger? Will it be the next week, or the next year? Will… Read more »
Union energy.
Already lining up at the trough