-- 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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Well, when you wrestle with a pig you both get covered in sheiss and the pig enjoys it!
It is amazing that the only way the City of Chicago can figure out how to reduce spending is to ask contractors who have been awarded contracts for work in the City to cut their costs…don’t reduce staff or stop spending on legal immigrants, or anything realistic, nope, ask the contractors to cut costs. What a Pin Head.
More like they gave him the 1 finger salute.
It looks like the stuffed envelopes to political leaders will get smaller if 3% cuts are agreed to.
I’m wondering how Mayor “ Dope “ and the other government parasites like the “F You- Pay Me “ pill that the contractors are giving them ? Johnson, Pritzger and others had no problem foisting that same medicine upon the taxpayers.
Looks like the city now has 62 Super Preferred Vendors and 59 vendors that will be black listed for future contracts.