-- 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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All this and the fat pinky ring aldermen are screaming that they don’t get enough asphalt money for their ward. Well I guess that makes sense, asphalt laying is a well known currency of favors and votes in Chicago. Going back to the 1950’s.
Layoffs and slashing city employees would go a long, long way.
Except to Oswego Willy (who lives in Oswego) who says that every city employee is essential, even librarians in closed libraries. There’s just no way to lay off anyone.
You know, the tone-deafness of the well-off CapFaxers is astounding.
All this mayhem, and they’re going off on some reported being banned from the Guv’s presser, like it’s a huge victory or some such.
Millions of their fellow Illinoisians are suffering tremendously. They seem to think that this will not touch them. But it will. Even the most protected will feel the bite from Illinois’ overreaction to the ‘rona. Trickle down is real, even for the fiscally well-padded and plumped.
The misery is running down your way, fellas. You’ll feel it soon.
I read the banned reporter asked critical questions. The one question I heard her ask was if JB saw the disconnect between freeing actual criminals from prison while at the same time threatening to put business owners in jail. That got her ‘banned’. That’s like .000001% of the kind of stuff Trump deals with on a daily basis.