-- 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 oligarchs are shaking in their boots tonight,” Maybe, but in reality it’s the middle and upper middle class planning their exit from the state.
That’s a great way to convince Amazon to give the city a second look after what happened in NYC.
I was always a little nervous about what was coming with the next generation of voters, but it was more of a know-it-all attitude that concerned me. I never guessed we’d see a resurgence of socialism. Scary…
One can always rely on Paul’s vote when you are robbing Peter to pay Paul is the way I see socialism and as we see socialism is the targeted end result in Chicago Illinois.
And New Yorkers voted for DeBlasio, he’s (nearly?) a socialist.
Wherever you find Democrats controlling cities, or states, you get larger “wealth inequality”, and the 51% on the bottom are starting to vote for socialism.
This is great news. Keep doubling down on the destruction of this state. Drive the state’s economy over the cliff.