-- 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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““One of the things that it’s clear to note that the working group fully established that we do not have a spending problem in Chicago. We have a revenue challenge in Chicago,” Johnson said.”?
And that is one of the Most Famous lines used by Democrats before Raising Taxes.
Hold onto your wallets Chicagoans, you’re about to get pickpocketed once again…
Correction:
Thousands of City of Chicago employees make $100K or more and work an average of less than eight hours a day on the job. That’s a huge spending problem.
Anyone spending like Pinhead is going to have a revenue problem. And this guy used to teach our kids? No wonder they don’t know anything.
So why even bother with the d&p show– “budget working group” or Ernst & Young $3.2 mil study? BECAUSE, THEY CORRECTLY ASSUME TAXPAYER/ HOMEOWNERS ARE EASILY FOOLED DOPES!!!
Nothing but BS.