-- 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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There had to be some information sharing or organization amongst these people as to how to get these loans. Seems like that would fall under the RICO statute.
When you make $200k a year and have a gold plated pension you spend $200k a year. I’d say the recovery rate on these loans will be about 0%.
Just more wild speculations on this site that happens so rarely.
You’re right, I’ll keep my narrow minded opinions to myself and not post them here anymore. Wouldn’t want to hurt anyone’s feelings.
You could provide commentary that is based in facts instead of just lying. No, you’re right, that’s probably outside your abilities.
And I’m sure these despicable ghouls will still be collecting their outlandish pension deals?
What’s the problem? These are reparations! You know, because of equity and stuff.
A ‘more to the point’ headline might have been,
“Top CPS official 1 of 14 ousted, leaving over 700 CPS employees known to have received PPP loans while earning $100K + per year to be investigated”
Followed by,
IG reports, “We don’t have the resources to look into them all.”