-- 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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someone should ask—what is average CTA cost $ per ride (with all CTA long term accrual costs -ie pensions, etc included) VRS cost of an UBER ride?
I’m betting we’d all be shocked
or maybe, avg cost $ per mile of CTA ride vrs UBER ride?
Dr. McCoy “My God Jim, Where are we?
Captain Kirk “Out of control and blind as a bat”.
Anything to spike the pensions and move out of Illinois to live the good life elsewhere. Bus drivers with the overtime are now paid hundreds of dollars each year, and much more when you count the benefits. Good work if you can get it.
Hmm, 80 hr/week? When Old Joe was in his prime 60 hr/week knocked him on his kiester.
I think Taylor Time and Motion Study is in order.
And Old Joe kept the Sabbath. Obviously if this story is true the worker was serving manna.
You know how there’s an armed forces recruiter lurking around high school graduations? There should be city agencies camping out at each high school recruiting anyone w/ no plans for college or a trade school.
This is more dangerous the overworked police officers. A 12-ton bus hurtling down the street, driven by someone on the 12th hour of their shift, ain’t good for nobody.