-- 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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BJ is trotting out to the field for that long, game-winning can-kick.
Who’da thunk, you can bet every city departments along with CTU/Brandon wants ZERO CUTS to even ONE city worker hired with what was supposed to be one time ARPA-COVID $billions$. Getting dopey city/state taxpayers to pick up the now spent ARPA-COVID $billions$ tab si all that counts going forward.