-- 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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Typical of the far-left leaning BGA these days. Their list of tax increases is not balanced with a list of where Chicago overspends versus competing cities. Start with the number of public schools with 75 or less students, or a police- provided mayor protection unit that is less than 100 cops?
Just another example of the Mayor’s crew not having a clue as to how to get anything done in Springfield. Like every other issue that needs state help– transportation, Bears stadium, Medicaid funding, etc., etc.– they just don’t know how to do it. And remember they just hired a new lobbyist who is a City of Springfield alderwoman– with one year’s experience as a lobbyist. This should work out real well.
In a bureaucracy, since you don’t operate on a profit margin, there are many jobs where it doesn’t matter how unqualified the person holding the job is. Also, the more you abuse the use of taxpayer money, the more unqualified people you can hire. Finally, public unions in IL running almost everything is beatin’ the crap out of us taxpayers.