-- 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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How much of remaining $375 mil in COVID $bucks$ will end up in CTU’s pockets via $$$”bargaining for the common good”/sustainable schools$$$? Don’t forget CTU/Brandon’s “progressive” city council allies blocked Alderman Conway’s proposed ordinance to let alderman vote on how remaining COVID $bucks$ are spent over $1 mil. As Ald Conway is emerging as one of few with courage to fight for everyday voter/taxpayers. (https://www.chicagobusiness.com/politics/chicago-alderman-wants-limit-mayor-johnsons-arpa-spending)—EQUITY!!!