-- 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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This is a huge scandal. I know people who are currently under adjudication for unknown reasons, it’s been weeks now.
Three people have told me they went through this same process. File a claim by email (after maybe ten tries since the on-line system frequently is down.) Forget calling the phone number because no one ever answers. If you are successful in filing the claim on line, you are told you will receive a letter in 7-10 days that will tell you when to certify for benefits. Maybe a week later a debit card shows up with no explanation that it is from the state even though you have not certified. You call to activate the card and the balance… Read more »