-- 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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$25M on gun violence intervention programs. Wow – Gotsa have a program. Gotsa get this done before the federal ARPA funds dry up and the program has to stop paying the program director and their valuable staff. It is just another patronage program. Ms. Taxwinkle… It doesn’t seem that these dollars and the “pROgram is having any positive effect on the City society.