-- 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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Amateurs and scapegoats! Don’t think anything is hopey changey until the feds bust the real players that have turned this scheme into an industry.
In Crook County?
Shocking!!
“As agents of the Cook County Assessor’s Office, Basilio Clausen, Lumni Likovski, and Lavdim Memisovski accepted bribes from business owners in the form of golf outings, food and drinks.”
Basilio, Lumni, and Lavdim. Sounds like fine, upstanding multi-generational Americans. Import the Third World and all that.
“In exchange, Clausen and Likovski circumvented the regular system of random assignment of appeals to route the appeals to Memisovski, who reduced the assessed values on the properties, according to the indictment.”
Nice to see The Chicago Way ™ still works.