-- 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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City tree trimming & sidewalk replacement could easally contracted out. But instead, last time i saw the city tree trimmer crew on my block was on a Saturday with one truckdriver staring at his phone in the truck, one supervisor staring at his phone on the ground, and yes one guy on the cherrypicker who trimmed a couple branches and then they were gone. Similarly, seen the city sidewalk replacement crew out on a holliday to demo 25 sf of sidwalk. A complete joke of inefficiency and rediculous union rules and complete waste of tax $. Its never asked how… Read more »