-- 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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None of this would have made Carlos Acosta any good at his job. Maybe stop with the preferential hiring practices in government agencies.
That goes for Secretary of State’s offices too.
Yes, Jabba, let’s just throw more $ at the problem, rather than try to reform the agency and improve its dismal record of letting kids die on its watch.
Yup-zero reporting on whats currently being spent or what other states spend. Googled, and dcfs current annual budget is approx $1.2 bil for 17,481 kids in custody. Jb will raise to $1.4 bil. And assume that doesn’t cover pensions & opebs