-- 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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The city union will milk this job for 100 years. A private contractor can do this job block by block cookie cutter style for a fraction of the cost. Chicago’s bungalos were built on pretty much the same Plat for every house. There is no reason this work can’t be cranked out, other than it being a snow job by city unions.
Well let’s look on the bright side. By the time they’re done Chicago will have the population of Detroit.
By the time they’re done humanity will be extinct…
is Chicago the only city using their own city work crews to replace lead water lines w fed $? Vrs competitively bidding out work to private contractors? I’ll bet yes.
The Great Pyramid of Giza took approx 20 years to build and it’s still here from 2560 B.C.