-- 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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Oh dear, Jennifer Shea. How you carry the water for the political animals on the RTA dole. Just one thing, there is no fiscal cliff. There never was. This is egregious mismanagement turned taxpayer extortion. How clever the ploy. The Autopen-in-chief sent gobs of confiscated Federal taxpayer funds under the guise of ‘Coof Relief’ or ‘Reducing Inflation’ to the political animals infesting the RTA. Despite a 45% reduction in ridership, the RTA political animals padded the payrolls and spent all of these temporary funds every year since 2020. Meanwhile, ridership fails to materialize. Those temporary funds have now lived up… Read more »