-- 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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Interesting question. I don’t know but the good news is that I don’t care anymore. I shook off the shackles of my Illinois slavery and now live in a free state. I am watching the ship go down from the safety of a lifeboat, but I feel no guilt. Only anger at what the slaves who live in Illinois did to my lifetime home. If you stay, you will drown.
Thanks for the cheery note. You really brightened my day.