-- 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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You’d have to be an idiot to live in Evanston.
I live in Evanston, and yes, the incompetence is staggering. Our worst enemies could not do a better job of systematically destroying a community than what Evanston government officials are doing…
Evanston has money for a questionable reparations program but not for its workers’ retirement.
They are also wasting money hand over fist on stuff like this: https://evanstonnow.com/alder-wants-city-to-give-bookstore-more/ Alder wants city to give bookstore more “Ald. Clare Kelly (1st) rallied supporters Thursday night to push the City Council to provide more money to a local bookstore when three economic development grants come up for approval Monday. “I don’t want to see this lovely, unique bookstore replaced with a formula, big box business,” Kelly told a handful of residents at a virtual ward meeting. Bookends & Beginnings, now located at 1712 Sherman Ave., is planning to move to 1620 Orrington Ave. The move was prompted by… Read more »
Do like always, the democrat way, raise taxes!
If that’s what it takes to get the pensions funded. Pay now or pay even more later.
They are going to study how they can have their cake and eat it too. Consultants needed: call McKinsey.
Everyone get racial reparations should be eligible for an Evanston pension, just like cops and firemen, same program. Taxpayer can pay for it, they were put on earth to pay, pay and pay.