-- 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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Might be easier for the media to simply report on all of the PPP loans that actually went to small businesses that used them properly.
Seems like that’s probably a much smaller group than all of the loans that went to people who lied to steal tax dollars.
Here’s another that’ll make you grind your teeth.
https://chicago.suntimes.com/2023/7/14/23794497/debtstoppers-semrad-law-bankruptcy-ppp-payroll-protection-plan-bulgaria-covid-debt-foreclosure