-- 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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There seems to be more to smoothly running a city than the current mayor is equipped to handle. City folk missed their chance to get Chuy Garcia a while back.
Could CTA bus drivers be used at premium pay? Make this available as overtime? We throw money at everything, why not for the children! Our most precious asset.
What about making double or triple decker school buses? And make the buses wider and add in center row seats. While they are at it have first class/coach/economy/rooftop seats/etc. This way you still only need one bus driver to transport 400+ kids. What could go wrong?
Huh, who in the hell would want to drive around a bunch of juvenile delinquents for any price.