-- 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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Taxwinkle has more angles than a Byzantine architect to get at taxpayers money.
This appears to be a branch office of the Cook County Public Defender, geographically more convenient for a lot of people. It will also offer “mental health support” and art, which seem to be outside the normal scope of Public Defender work. I wonder what happens when the ARPA funds run out.