-- 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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Chicago won’t privatize water service because Chicago water bills are mostly a tax and source of revenue for the city. The water, sewer and trash pick up “provided” in the bill is but a small portion of the amount in the invoice. Mostly its just another hidden Democrat Tax to pay for the preferred citizens of this state – parasitic government union workers and politicians – at the expense of the real taxpayers and working citizens.
Bust SEIU, AFSCME, CTU and IFT now and then real change can start to happen in Illinois.
I actually agree with Lori on this one, a broken clock is correct once a day (in military time). When Homer Glen privatized their water system monthly bills went from $50 to $300. A German company came in and basically robbed them, bad contract, bad lawyers, bad negotiators. Water is the most basic function of government, Chicago needs to know bow to do it themselves. If Chicago did this it would be a worse deal than the parking garages, meters and that bridge tollway they privatized. Historically Chicago can’t seem to privatize without getting massively shafted on the deals.
Question. Why are all the problems in minority black and hispanic neighborhoods. Just asking for a friend.