-- 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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I believe indiana is using part of its multi billion (responsible state) state budget surplus to immediately start paying gig workers unemployment claims and then get reimbursed from feds. No dice for illinois last in line/ last to feed gig workers. Indians also slashing spending, laying pff and furloughing state workers
Now i read articale in wsj from 2 days ago that illinois has been approved for $12.6 billion fed loan for unemployment claims? So now im confussed,, and zero in local news on this? https://www.google.com/amp/s/www.wsj.com/amp/articles/california-is-first-state-to-borrow-from-federal-government-to-make-unemployment-payments-11588617257