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"With Chicagoans facing inflation, high utility rates, and an already considerable array of municipal fees, fines and sales taxes, they don’t need the city grabbing at their pockets. This would be a good time for Johnson to do away with obvious money pits, such as his plan to toss in $1.5 billion in infrastructure improvements to help the Chicago Bears build a lakefront stadium."
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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Bankruptcy is the only real solution, cancelling all contracts and pensions and starting over.
He could start mandating enforcement and collection of all outstanding municipal fines, fees, tickets, and charges. He could demand that Cook County enforce and collect outstanding real estate taxes from delinquent property owners. He could relinquish his assigned 150+ CPD officers, serving as his personal protection unit, and rely on one driver/bodyguard per 8 hour period. 145 officers could resume patrol duties. He could require all City Hall departments to slash 10% of their payroll. Many of these departments are grossly overstaffed. City Hall employment has ballooned under Johnson administration. He could require CPS to close all under-enrolled schools with… Read more »
With all due respect, do you really think any of that is going to happen? Do you really think that City departments are only 10% overstaffed. Do you really think this owned stooge is going to contradict anything his owners say i.e. CTU? Yes, these things should all be done and much more, but none of it will be done. It won’t even be discussed. What will be discussed is more taxes. Nothing else. And if you think otherwise, I am sorry for your naivete.
so better to admit defeat, and accept all that is wrong in silence?
truly sorry that you’ve given up in life.
Relocation is not giving up on life. Choosing freedom rather than slavery is the opposite of giving up on life. You don’t need to be silent. Scream all you want. In the People’s Republic of Illinois, it will do no good. Stay and scream, fight, kick and otherwise resist. You will lose and just exhaust yourself. The democrats have outlawed God and hope in Illinois. You may not realize it, but by choosing to stay in that hell hole, you have chosen to give up on life, because you are only a slave to your masters there. Leave and never… Read more »
In a former life, I used to work for a relative who paid me to run to various city halls around the county. In most places, there are one or two people on staff who handle the paperwork, from application to payment to processing and approval. However, the City of Chicago was always the worst. For example, and this was a while back, you would walk into the moderately busy office on a weekday. There would be a greeter as a gatekeeper to direct traffic to a clerk. There would be three clerks looking at their cells phone or doing… Read more »
Other money holes to be filled could include clawing back the millions in fraudulent PPP loans to CHI/ Cook County employees, reducing the ridiculous number of aldermen ( far more than cities bigger than/ about the same size as CHI ), reducing the bloated staff in city government, doing away with “ throw money at the problem “ social service programs and lastly, quit giving uneducated, unemployable illegals carte blanche.