-- Connecting the dots between our economy, government and business --
Taxpayer costs to care for migrants amount to $1.5 million a day, Chicago Mayor Brandon Johnson said, and now those who faced eviction from city shelters will be able to stay until March. “This is not sustainable, and so the federal government has to lean in,” said Johnson. “As far as what we do, because the cost is $1.5 million a day, we are going to have to push the federal government to do its part.”
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER