-- 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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The best day of your life is the day you move out of Illinois.
There is no hope, DOA, a goner for ever.
The Greed of the cops, teachers and firemen have destroyed the quality of life for the honest hard working taxpayer. Leave HIGH TAXES, POOR SERVICES AND LOUSY WEATHER.
This is way beyond funny. Nobel-prize-winning economists meet to discuss how to tackle the pension crisis.
Instead, fourth-graders should’ve met to discuss how to tackle the pension crisis. They would’ve concluded: reduce or eliminate pensions.
mqyl, most complex problems have “simple” solutions that simply will not work politically even if thought sound otherwise. For instance, on the national scene we have Pres. Trump proclaiming “trade wars are SO easy,” “only I can solve it” and “I know more than all my generals, believe me.” All sound good to the uninformed listeners as easy solutions, but real solutions evade quick, lasting resolution far more often than not.
Or sometimes, the solutions really are that simple, but the brain trusts of the elected officials overthink things, and get bogged down in the nuances of this, and that.
That’s precisely the power and the time-devouring slog of having a variety of people representing different political interests and simply differing points of view themselves; its frustrating to all concerned most of the time—to those who are empowered to do it and those who have to live with the consequences.
A fantastic must watch/ listed, the u of c eggheads pretty much confirm everything wp writes about. The only conclusion if your a idiot average middle income/ home owner/ tax payer is run for your lives!!
The best day of your life is the day you move out of Illinois.