-- 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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I’m guessing we’re going to get a few guys making 30K a month from some no bid corp, that probably don’t deal directly with the public, until the $$ runs out. No FOIA, no transparency, no solution.
So the unions lose dozens of jobs when mental health clinics close and it is a problem. Not the lack of services for people. The article refers to six positions at $470K, which would be $78K a piece, so it seems obvious the administrators of that facility are lobbying for this change, not the front office workers. To add insult to injury they don’t reference the people they should be helping, or to take it one step further, the mental breakdown of taxpayers due to ridiculous real estate taxes, failure of the state funded education system or lack of police… Read more »