-- 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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Johnson just opened the flood gates for parental leave. Teachers yes, everybody else no ain’t gonna cut in contract negotiations. Good for you, good for me.
Giving leave to teachers only was a rookie mistake by the Mayor and his inexperienced staff. Now he is going to have a problem not only with police, but firefighters, SEIU, Teamsters, and all the trade union members who have city jobs as well. For a pro-union guy, he should have known better before he stepped in it bigtime.