-- 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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2026 is an election year. Say no more.
Leave it to the useless Chicago Media to miss the real story here: The required service cuts and layoffs have been delayed for more than five years.
All these political animals need to be removed from their roles of responsibility at RTA/Metra/PACE/CTA as it is obvious they are simply incapable of acting responsibly. The tough choices need to be made whether or not Cam Buckner has a tantrum about it.
This bailout is just for this year. Next year’s ‘ask’ (demand) will be even larger. What then, Executive Directors? Cammy?
Yes. You all need to go.
Once again, all the machine cares about is avoiding layoffs for the public sector class and all the hires made possible with now spent, what was supposed to be one time, ARPA-COVID funds that is now being transferred onto the backs of DOPEY taxpayers….everything else is “kabuki theater”/ “rearrange the deck chairs on the titanic”….everyone from JB to Springfield to City Hall knows it
Sad and Pathetic.
Crooked and corrupt IL Dems will sell out the suburbs to bail out Chicago’s never ending failure and theft generating machine — the CTA. This is the payoff of one party Democrat rule.