-- 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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You can’t make this stuff up.
Watching Brando do his whole pseudo-socialist/ Black preacher “I don’t do raggedy” Q & A with reporters is way over the top entertaining nutty…he makes clear he’s one zillion % behind CTU. All the cities financial ills are the racist fault of past political decision before he even lived in Chicago, as usual he endlessly blames the millionaires & billionaires, etc, etc
Who are the approx 27-23% that still approve of his shtick besides CTU and some WBEZ/Chalkbeat types is my question as a city resident……but very “grab your popcorn bowl” entertaining.
(https://www.youtube.com/watch?v=e1cWBMm-cPI)
Chicago finances were a mess prior to Brandon Stacy Davis Gates Johnson (D-CTU) but it’ll take 15 years to repair the damage from his 4. Only budget cuts and closure of underpopulated schools will turn the tide. But that goes against the make work jobs program and stranglehold on the pension cash cow, er, the budget, by CTU, so will never happen with this pretend mayor. And the kids, oh yeah, those…
Protecting teachers, that’s where that stops.