-- 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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But if the city doesn’t own it, it won’t be socialist! Can’t have that (plus can’t then staff it with Johnson stooges).
Just more money laundering of taxpayers money. Going after the EBT money now! Probably have a cashiers window like at a pawn shop behind glass.
I was tempted to say that perhaps the city should assure the security of the store and let pros run the store. But then I remembered the city ties the hands of police and Kim Foxx won’t prosecute those who steal from the stores. So that approach wouldn’t work. Mayoral and aldermanic cronies will select which connected building owner will lease space for the stores and will make sure certain people, regardless of qualifications “run” these stores, which will have enormous skrinkage from theft subsidized by taxpayers. In short, patronage.