-- 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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ComEd should be rolled into the Water Department. It makes sense, because most of the ComEd employees drink water on a regular or simi-regular basis. Since we are going to be doing ComEd, we really should look into citizing (think nationalizing, but for cities) other corporations that are within city limits. Starbucks can be found on various street corners throughout the city. Perhaps those should be rolled into the Streets and Sanitation department. Oh and the Merc?.. Lets put that into Cook Country prison system since most of the traders are a bit crazy. I hope you all know I… Read more »