-- 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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Big story, is this articale states its ONLY 4,500 migrants (not 10,000 migrants) the $51m for one month is going for? You do the math. Ald Lopez is right, where’s all the $ going??—” More than 4,000 recent arrivals from Texas are living in city shelters. Another 500 people are sleeping the floors of police stations across the city. “
Translation: Free stuff for everyone!