-- 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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UC had considered leaving Hyde Park during the high crime late 60’s and early 70’s. To this day, it serves them right because UC has been a locus of most current civil disruption. “Los Chicago Boys” Milton Friedman with the shock doctrine, Bill Ayers, the Obamas…ah c’mon man, it’s karma. Personally, I believe that colleges are over-rated as bastions of knowledge or wisdom.