-- 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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Obviously CTA (METRA & PACE) primary function, just like CPS, is to provide overcompensated employment for are union public sec hero’s. Only difference is CTA unions are managing to shake down taxpayers on the down-low, old school machine style, and aren’t pretending to be pseudo-socialist progressives phonies.
I’m feeling horrendously bad for Metra.
Marty Moylan, the ‘reasonable’ Democrat, that receives 99% of fund his campaign donations from unions and trial lawyers. IIRC, and I looked up this a while back, not one resident of his district gave him an honest dollar last election cycle. Not one dollar! Yet the ‘working class’ people in his district – many of whom voted for Trump – think “OH that Marty he’s for da workin’ people” so they vote for him every time. The voters of this state truly SUCK