-- 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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And guess who led the disastrous CHA/HUD Scattered Site Program for many years that saw hundreds of millions in waste and years of backlog and unbuilt housing– Habitat and its President at the time –none other than Valerie Jarrett. Obama rescued her from the fiasco, took her to Washington, and no one said a peep about what a disaster Valerie and Habitat were.
As CHA circles the drain (and I assume COVID $bucks$ run dry), Brando’s sticking with Scott who’s held over from Lightfoot administration …I guess with untold CHA properties siting empty, big spending on increased salaries & benefits, spending on non-housing “Move-to-Work (MTW)” program instead of Sec-8 vouchers, etc, etc Scott still checks all the progressive boxes for CTU/Brandon & crew?