-- 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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It “…isn’t right”. That’s all Mr. Msall has at this point?
Everything in this city “isn’t right”.
What’s next, the Civic Federation paying for an orchestra to play “Nearer My God to Thee” outside CPS headquarters?
I don’t think much of Msall or his organization but at least he spoke out! Very out of character. Maybe somebody absconded with the windsock.
Msall went into more detail in the civic federation report and expressed his opposition to the 5% property tax increase request. Most of his reports just repeat what he previously has proposed, “consolidation, reduce spending, etc”. It falls on deaf ears and nothing changes.
https://www.civicfed.org/CPS_FY2023
Hmmmm………CPS fearful of the blowback from school vouchers decision. Grab now before the obvious occurs! It’s for the children? No, it’s for the teachers!