-- 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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“ In keeping with the spirit of our rich, diverse tapestry and the promises offered of free everything to those of color, we must pursue new streams of revenue that will ultimately achieve our goal of equity for the Socialist Workers Peoples Republic of Chicago “ said mayor Raggedy with a straight face.
TRY GETTING NORMAL ANSWERS
Disinvestment. Mayor’s favorite word. Here are some great examples of disinvestment in Chicago: Years of scandals at Chicago City Colleges and at Chicago State University. Questionable leadership, administrative bloat, embezzling of funds, lowered academic standards The scandals at Chicago schools/colleges have caused an erosion of trust and enrollment dips. CSU almost closed a few years back to low enrollment, and CCC has always had a low graduation rate. Meanwhile, look up the article “SURS pensions are schooling taxpayers.” Another example of disinvestment: Soft-on-crime policies are driving retailers out. And entrepreneurs know Chicago is not a good place to put a… Read more »
The community wants its cake and eat it too. They want Englewood to look like Lincoln Park but with really, really high crime rate, because they won’t stop shooting and robbing each other. It’s an irrational and illogical point of view but they keep pushing it anyways. If the murder rate in South Shore – arguably one of the better located ‘blighted’ neighborhoods in the city reduced its homicide rate to 1-2 murders in a year, down from 20-25, the community would gentrify in less than a decade, and wealth would pour into the local homeowners and business owners, and… Read more »
“Umm hmm! I finna spend all dat monay! Word!” Mayor Tupac Raggedy once again proving the popular conception of his mayoral prowess.