-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Mayor Cliff Notes is in so far over his head that artificial lighting is necessary. Mayor Notes hasn’t managed as much as a hot dog stand, so he’s clueless and looking for political cover. No, this won’t put him back in double digits in the polls. Time to move on from this incompetent buffoon.
If Chicago and Illinois, need Billions of federal dollars just to run the departments and programs they have invented…obviously, something is wrong. Having that level of dependence on the rest of the country to pay for the stupid, wasteful programs, give-a-ways and graft of this terrible run state is just wrong and unsustainable. The Fat man and the Pin-Head can blame the federal government all they want, but the problem is here in this state in Springfield and Chicago. Illinois is a financial disaster awaiting implosion. Neighboring states of Iowa and Indiana have surplus funds…not only paying their way, but… Read more »
How many of these “advisors” are his yes men ? How many are just getting a pay check
Across the board is 10% cut enough should be the only question.
look for a lot of “dog-&-pony show” blame it on Trump by Brando & crew as the fed ARPA-COVID $gravy train$ runs dry and taxpayers will be asked to bend over yet a little more VRS any of are public sec heroes having to loose a constitutionally guaranteed dime in pay, benefits or job security.
OOh, the group “… aims to deliver recommendations for improving efficiency …”
Now, we’re talkin’. Finally, there will be significant reductions in bloat to reduce the financial burden of the Chicago taxpayers. Just kidding.
I hear they’re going to call in Musk….NOT!!!!
Definitely not. That would uncover where Chicago is actually putting tax dollars and which political animals and the friends and pals are on the receiving end.
We can’t have that.
I think “working” is a misnomer in this instance.