-- 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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Lori will claim victory! The feds are in. She’ll use this for revenge against anybody who mouthed off to the Mayor! Your streets will be ripped up for months! It’s federal money, Park the front end loaders on the lawn.
Time to start lining up the entire population of Chicago as plaintiffs in the class action against the city, the contractors, the landlords and the pipe manufacturers (if still in business) to share the booty that falls from the trees and the sky. Who knows what damages were caused during a statute of limitations period that won’t begin to expire until people have “learned” how their lives and job prospects were destroyed by ingested lead. Bring in the state and federal governments for lack of diligent oversight. The plaintiffs’ bar can be almost guaranteed a multi-billion-dollar settlement fund from which… Read more »
I don’t know who has bigger dreams Biden or Pritzker