-- 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 don’t really understand the purpose of this. They all vote Democrat. They all vote for each other’s bills. Other than the fake standing up to the mayor, they vote in lockstep with each other. There are few public spats between them. They get whatever they want (except a nationalized power utility that focuses on equity). With such a monoparty, what difference do the boundaries make? It’s about designing more Latinks leaning wards to give Latinks more power over the declining Black population? But what difference does it make if there are more Latinks than Blacks if they all vote… Read more »