-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Isn’t there a hiring freeze, or doesn’t that apply to mayor I need a larger staff ?
Isn’t that conflict of interest ?
Funny how activists that somehow wind up on the scrap heap are reborn with a Panic Attacks lucrative position.
Being Bedi is being listed as “Johnson’s strategy chief” does this mean Johnson is footing the bill for her services?
If it were anyone else but Johnson, I would say he cannot be serious! But alas it is Johnson, and he is serious. If I routinely did stupid stuff like him, I’d have panic attacks too.