-- 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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The lead lawyer in the DOL is Mary Richardson-Lowry, the 1st Black female to serve as the city’s corporation counsel, appointed by MJB in 2023. Here is her agenda…. “In a questionnaire for The TRiiBE, Richardson-Lowry described how the department works to improve the lives of Black people across Chicago, writing “the department has pursued litigation that ensures protections for Chicagoans from unfair and deceptive business practices, strengthened laws that promote public safety, worked to reduce social inequalities that have harmed Black and Brown communities, and supported policies that bolster environmental justice throughout the City.”” So for example, who did… Read more »
The city could try not bending over and instead fight these allegations. I am sure that there a lot of suspect cases that are just an attempt to get paid. But when the money being thrown around is not theirs, the city administrators just do not care.
Mayor Johnson vetoed the curfew proposal. He commented it’s better to invest in people whatever that means. Perhaps paying outrageous sums is what he meant. Not sure how this helps citizens and businesses victimized by violent mass gatherings of teens.
The curfew would have been pointless. Arrest them en masse and have their guardians come pick them up after they pay a minimum fine of $100. That will end all this nonsense.
That is a lot of money. This has to stop, the money is badly needed elsewhere.