-- 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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City is now projecting spending $361 mil per yr for 18,000(??) migrants on the high end. Or $361,000,000/ 18,000 = approx $20,000 per migrant per yr!!! Is city spending anywhere near that amount on US citizen homeless?? Does any homeless advocate, pol, or press care to ask??? ——“The migrant crisis is likely to cost taxpayers $361 million between January and December 2023, according to updated financial projections released Thursday by the mayor’s office. “