-- 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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Wah wah wah When last I looked the State had a backlog of unpaid bills in the $9 billion range and increasing. What about healthcare providers- doctors, hospitals, nursing homes, pharmacists and other state vendors that are waiting 3-6-9-12+ months to get reimbursed for services provided to Medicaid and any state and local employees covered by state benefit packages. Health care workers (HCW) everyday are taking care of people with flu like symptoms. They take precautions but still have a high rate of infection as past coronavirus episodes (SARS and MERS) predict risk to HCW. Everyday they go to work,… Read more »