-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
And the author of this article forgot to mention how long members of the Chicago Fire Department have been working without a contract. Let the teachers work without a contract for three or four years like members of the Chicago Fire Department have been doing.
He’s on a 4 year kamikaze mission to raid the coffers for CTU for everything he can. Strike kamikaze, he’ll not only live but will thrive once his one term is over. He will end his “leave of absence” from CTU and resume whatever it was he did there, collect a large paycheck and eventually a large pension. Meanwhile, Pritzker, Emmanuel, Harmon, the state attorney general, and other democratic “leaders”, all of whom will collect large state pensions, stay silent and do nothing to oppose him. This continues the joy of single party rule where that rule is more important… Read more »
As a reader pointed out yesterday, Brandon doesn’t care what anyone thinks of him. He is here to loot the coffers, give his con friends and associates plum positions and appease his CTU masters. He will walk away laughing when he finally leaves office, his mission to destroy CHI in the name of equity complete.