-- 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
try fixing dhimmi-rat corruption first, a**holes
Maybe they can call in dorthy brown to straighten things out!!
Software development projects managed by cook county staff? Oh my god that would be a disaster, better to just burn the money or keep the green screens.
Just guessing and hopefully wrong, but I would expect the remaining short-handed staff consists of those with high seniority, lacking in computer savvy, burned-out, waiting for early retirement, and absorbing most of the budget. New hardware and software would likely be wasted on them and they couldn’t begin to train their replacements. With their limited skills and energy, they probably get lots of overtime, further straining the budget. 100% union shop. Will someone offer facts to correct my stereotyping? How many MBAs under 30 work there? What is the office doing to attract (or make room for) a level of… Read more »