-- 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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Keep throwing money at useless social service programs that are rife with grift, have no standards to determine their success/failure and produce no discernible positive results. Another version of PPP loans. We see how that panned out.
Apparently this is how CTU/Brandon is going to spend it’s new economic/housing development $1.25 billion bond? Frittered away in ‘community’ handouts with probably ZERO oversight. All to be paid back by dopey taxpayers way down the road at astronomical rates.