-- 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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In summary, ctu members feel emboldened after the last strike and believe they need even more today. The city can’t afford the last contract and definitely doesn’t have more funds for more demands. I wonder what will happen?
They’re all about maken sure ctu gets a big old slice of the HEROS ACT pie…especially if dems sweep. Thats 100% what all thier demands are about with less than 10 day to go.