-- 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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I believe most of the “infrastructure” spending will be by direct hire city crews at CDOT, Water Dept, etc, so I’m sure city trades unions are lobbying heavily for passage…(i.e Operators 150, etc to keep those $25gs a pop lead water line replacements $$$$$rolling$$$$)
Here’s an article about Brandon.
https://www.yahoo.com/news/mayor-brandon-johnson-warns-dip-202600989.html
How about cutting $830 million in spending?
The only way to do that is to eliminate the CTU, and that’s not gonna happen.