-- 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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I don’t think anyone on the planet would consider City of Chicago leaders to be responsible stewards of the people of Chicago, at least concerning how the leaders spend taxpayer money.
Maybe Johnson should follow the recommendations from the pricey consultants that they hired to cut spending.
Chicago isn’t meant to be affordable. Chicago today exists to enrich the ruling class and their cronies. This could be said about a lot of governments, but many of them at least try to keep spending under control. Chicago in the past few years has totally removed the mask and no longer tries to keep up the facade. They have gone straight to the ‘looting the treasury’ stage. And it shows. Basic standards in governance have been toss out the windows in favor of special interests who want to loot. I read today that dozens of city plows were damaged… Read more »
Da Chicago Ruling Class is da Dems and their masters are the public sector unions esp. da teachers unions!!