-- 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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Check this out about over and under payments for workers in Chicago.
https://www.yahoo.com/news/city-orders-audit-pay-mix-143800328.html
Criminal.
I wonder what the budget deficit really is.
Juneteenth is today. Now the only state that still has slavery is Illinois. Illinois has enslaved the taxpayers for generations to come.
The public sector unions are your master. You work for them; they do not work for you.
Cook County could lay off a billion dollars worth of patronage and DEI mopes and you’d never even notice a diminishment of “services”. At this point IL, the city and county are fiscally irresponsible for NOT making the needed cuts to get us out of debt. Hopefully it gets so bad IL is forced to be the first state to just go all in on AI and replace every useless pension parasite in government.