-- 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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What do you expect when decisions are made by incompetent individuals whose resumes only boast is that they can win elections? How much experience and job skills do politicians need to be elected? Zilch! A good case in point is Brandon Johnson. Four years experience as a teacher, a career as a union organizer, a second grade politician and absolutely NO experience as an administrator. And he has a basic misunderstanding about utility bills (hint: you have to pay them!). If he doesn’t learn on the job, Chicago is in for a rough and tumble four years – if not… Read more »
The Government failed in a critical time of need. Heads should roll and employees should be terminated. Many of these positions and even agencies should be outsourced to private corporations which are subjected to limited budgets, external audits, compliance standards and legal recourse.