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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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Are sure they are talking about IT or are they talking about government “Workers”?
I have to deal with city hall quite a bit and have been for 30+ years and in that time I’ve watched countless IT initiatives, programs, overhauls, upgrades, roll outs, etc, etc, etc, and nothing works any faster, more efficient or better than in 1987. The only saving grace is less trips to city hall. I can’t imagine how many millions were pissed away on worthless IT initiatives. At this point just outsource the entire bureaucratic infrastructure to Oracle or whomever the lowest bidder is and fire all the human pension parasites, replace with AI and then watch as the… Read more »
Jeez – exactly what happens when people don’t pay attention to what guvmn’t is doing.
Hmm, why doesn’t the wireless tax get lost in this mess?
probably cuz lazy loafer city workers are downloading porn and doing fraud schemes on their computers all day