-- 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 was SO much PPP scamming going on. The key indicator to know if a loan was a scam or not is whether the business applied for loan foregiveness or not. Legitimate borrowers applied for foregiveness. Scam artists got their money, spent it, and never thought out it again.
WOW! Public employees defrauding the government! Who would have ever thought.
It would be worthwhile to pursue civil litigation against all participants in PPP fraud.
Even if damage recovery and penalties are uncollectible today, judgements may be recoverable in the future when their next fraudulent activity pays off.
Don’t they screen these people before they five them a cakewalk government job