-- Connecting the dots between our economy, government and business --
The family turned to Ald. Raymond Lopez for help, but he couldn't get the Water Department to back down. "They're going to put me in the grave with this, because what do I do?" said property owner Diane Carli, 82.
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
A lot here not adding up beyond the impossible claim of 2,700 gallons used per day. I looked at my own water bill and multiplied the total per gallon charges by 500,000 gallons. I got a total of $5,120. Now I understand water rates vary but is Chicago’s water rate really 4500% higher than where I live in NJ??
She should check with CTU President Stacy Davis Gates. After all Stacy is an expert on dodging unpaid water bills and doubt anyone is garnishing her wages.