-- 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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Rev runs on the school board, non- bus riding padres on the CTA advisory board ( or whatever it is ) . Nice to see everyday people with experience in the work world in positions to call the shots that affect everyone else.
Except for ‘not even a customer of transit’ Pastor Jarixon Medina, I suppose we are supposed to be pleased with the appointment of more political animal pals of Chicago and Illinois’ middle-feeder politicians. At least some of them can actually have ‘transportation’ printed on their resume without fibbing overmuch. Dear readers should note the lack of private sector transportation and finance experience among this crop of political animals for the “powerful” RTA oversight board. As Mack Liederman points out rather succinctly: “The CTA oversight board seats have also long been reserved as plum positions for politically connected people. Out of… Read more »
Your average Metra rider understands more about operations than any of these appointees and there’s people in finance that understand more about finance than any of these appointees.