-- 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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Curious-What was the original value of the citation/bills when first issued before any fines were added? That cost is a very small percentage of what is owed now.
Hmm, I suggest BJ forms a task force to look into those who skip out on their water bills.
Middle and upper class people with middle and upper class values pay their bills. The others don’t. There’s your 6.4 billion, soon to be a higher number.
The Sun-Times argument that the $6.4 billion in uncollected fees and fines could cover 40% of Mayor Johnson’s budget misses the point: This uncollected sum is over 33 years- Chicago lacks the revenue sources to cover City Hall’s massive spending plan. Clearly, structural change to the expense side of the ledger is necessary.
Fees, fines and tickets are “Racist”, ergo not paid, nor collected from POC folks. Review of records will confirm.
Go check out the Saturday morning water bill collection court at the Kangaroo court otherwise known as 400 W. Superior St. “Why should I have to pay for water when we can get water for free from Lake Michigan?” is the basic mentality over there. Large numbers feel they don’t have to pay water bills for years and years and become entitled, “How am I supposed this bill?” Suggesting that one repair a leaky toilet, or a dripping faucet that lead to an inflated water bill is a non-starter and considered racist.
I remember when Mayor Richard M. Daley was selling off City assets in 2008 he considered selling the municipal water system also. However, when the potential bidders were doing their due diligence they realized there was billions in uncollected water bills. All the potential bidders walked away. Looks like nothing has changed in Sheeetcago!!
It’s insane how many people don’t pay their water bills because the city rarely shuts it off. Water is a human right, and the rest of the city should pay for these homeowners’ leaky faucets and running toilets.
They most like do if you are white in certain neighborhoods.