-- 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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Conservative and moderate council members? They are all democrats! There are no true conservatives and moderates is a stretch. But I guess this is what passes for journalism there in the People’s Republic of Chitganistan. The media has skewed your view so much, you don’t even know what is real. But hey don’t worry, your few functioning brain cells can take comfort in watching the bears game at your favorite bar. You know bread and circuses for the morons.
The $9.50/mo garbage fee is 20% of what it costs the city. Sounds to me like that should be increased to $50/mo. A better option would be to privatize garbage collection.
Another great point. People in the city are so used to having other people pay for their services that they use and are in shock when they actually have to pay the bill themselves. Chicago residents should be paying way more in property taxes and services based on all the feel good initiatives they love to support. Until the costs of these items are held up to the voters face, we will never see fiscal responsibility.
Looked at my village utility bill. I am paying $27.07 for garbage pickup. DuPage county town.
Forgot to add, village contracts with private company. Not sure how often the village puts contract out for bid.