-- 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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Since the city council recently passed an ordinance that no one but city employees can work on provision of water service, private contracting for efficiency in replacing the lead services is out unless the ordinance is repealed. So municipal plumbers, operating engineers, and laborers union work rules and pay scales will apply.
If I were a typical Chicago pol sitting in the mayor’s office, I would be tempted to use the federal money to run the whole water department on the Federal dime. That would free up local tax $$ for me to spend other than on the water dept.
Too logical, Dr. Nemo, too logical.
This would be a good job for all the border crossing laborers, seriously.
Perhaps Joe will divert some of the billions he is sending to Ukraine to Chicago. That way some citizens may benefit from his largesse. Maybe?
Seriously they built the Pyramids faster (20 years or so) than it will take to replace the lead lines which at the current rate will be????? 30-40-100 years just pick a decade or century. After just a few lines replaced they will complain they have lead poisoning and quit.
Joe talks like he’s got a paper ahole. He’s like the drunk old man that everyone ignores now. The leader of the most powerful nation in the free world. What a travesty.
Lol, Lori can’t get it done, so Joe the Dope is going to help!