-- 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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Hmm, another connected grift…..
You ain’t kiddin’ – a security guard often makes no more than $17 or so per hour, but here: “When it came to employees assigned to security, the invoices show that Favorite charged Chicago taxpayers a median payrate of $24,000 apiece for each security guard, for four weeks’ worth of work. That translates to an annual charge, for each security guard, of $312,000…”
My thoughts exactly.
More woke hires who happened to have been “sent.”