-- 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
Economists’ predictions are so awful they make astrologers’ predictions look good. These guys are just making up numbers out of thin air. Just exactly why do these economists think inflation is going to magically go down to 2.5% by the end of the year? Interesting the accounting and tax firm complaining it can’t attract applicants also doesn’t say if it requires employees to come into the office. Then the article goes on to say that few workers want to return to the office. Go figure