-- Connecting the dots between our economy, government and business --
The appointment of the interim officer will have large financial implications for the district, as that person will address a deficit of over $500 million in setting a budget for the following year.
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
Rules for thee but not for me.
…and remember to fully fund my six-figure pension.
Political animals have zero shame.
And then retire with a second pension
I’m sure she’s just one of those really smart hard workers that PPF keeps telling us about. You’re probably just jealous.
Good God. Of course. Appoint your Chief of Staff to Lead CPS into the future. Sure, why not, she’s certainly qualified…I am sure she has tons of education management experience and can guide this completely dysfunctional organization into the future. Oh and while she’s there, she will be paid some ridiculously high salary that will benefit her for her next pension. It is all – just a game of friends rewarding friends and patronage using money taken from hard working Citizens.
Incompetent leaders appointing unqualified staff are dragging the entire system further into the abyss.
more wins for CTU$$$$$$$$$$$$$$$