-- 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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“Chicago mayor proposes ‘biggest’ plan in US to help low-income residents” while raising property taxes on the real hardworking citizens of Chicago. Clearly this is a massive wealth transfer.
“Biggest plan” should be bus tickets to NYC or LA for low-income Chicago residents.
Hey hardworking Chicago residents- You voted fro her Have fun while they take all you money! LOL
Calling total BS on Lightfoot for this one. She knows her approval numbers are tanking so she trots out the big give-away. Why doesn’t she tell her constituents to do what I do – get an effen job!
Is it too soon to start using “lame duck mayor”?
She’ll pay for this with toll tax to enter the city! It’s brilliant! Free money!
Chicago BLM Mayor of underfunded pensions proposes biggest Socialism plan in debt ridden US to help city but not necessarily US citizens.
The fair selection process and committee is to be determined.