-- 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 gimme free stuff crowd is getting angry because Mayor Raggedy is giving their money to another group of free stuff seekers.
apparently the $95 mil comes out of $400 mil in remaining unspent fed COVID funds CTU/Brandon (Mayor transparency) can spend without aldermanic approval?
Again, is this even legal for him to use covid-19 funds.