-- 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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It amazes me that everyone here accepts the distinction that the casino is to be built to serve the “public servants” and not the private sector.
It is almost as if the government is here to serve itself and not the people.
They wrote about that in books awhile ago. Books like 1984, by George Orwell.
So much of that one and Brave New World has played out right before our eyes that it’s downright terrifying.
Do it the Chicago Way. Run the casino so that insider cronies make insider fortunes, the casino itself shows big losses every year, then let the taxpayers foot the bills. Thank you.