-- Connecting the dots between our economy, government and business --
Risking a preelection backlash, City Clerk Anna Valencia and City Treasurer Melissa Conyears-Ervin said Friday they will accept the 20.5% raises — to $161,016 — that Mayor Lori Lightfoot’s 2023 budget includes for those two jobs.
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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In the private sector you would have to change employers to approach a 20% raise.
This process of inflation exceeding raises in the private sector will break the American economy and possibly precipitate a revolution.
Not if you were represented by a strong union. Vote Yes for Amendment 1. Vote yes 4 workers.
The party of inflation strikes again!
Sickening just plain ole sickening
I can understand, the Ervin’s need the money after investing in real estate in Maywood. They bought a dope house from the mayor of Maywood. I can still hear the laughing!