-- 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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It cannot be over-emphasized how much of a financial raping most of you are about to receive once Cook County gets past the optics of this election cycle.
Once the election hype is over for this year on Wednesday, I fully expect to receive an enormous property tax bill by the end of the week. The cowardly politicians at the state and local level hope people will forget before they must run for office again.
As predicted, another oversight board was created to oversee the spending of METRA and PACE. These 2 entities were oversight boards established to carefully control the spending of CTA and suburban busses and commuter rail.
Vote Preckwinkle and the Democrats out of Cook County. They’re all incompetent, progressive lefties out to support themselves, not Cook County residents. I live in suburban Cook County and have a Chicago Democrat as my representative, so taxation without representation. The suburbs need suburban representatives, not Chicago representatives.
One has to wonder if all these delays are really due to a malfunctioning computer system or are the city/county budget so screwed up they are trying to hide all the deficits by pointing at this computer network…which seems to be working fine in DuPage County.