-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Dorval, at his 375 K salary, couldn’t be expected to ride around with the “ folks from the community “.
Can not blame them for not wanting to take public transportation.
Not safe at any speed.
This reminds me of when Penn Central President Stuart Saunders and his other bigwigs were given door to door limousine services while PC commuter trains ran up huge deficits running decrepit equipment on the commuter line right by the Saunders compound on the Main Line.
Saunders would never lower himself to ride his own trains then either.
Make sure the IRS knows. That’s taxable income.
These guys need to connect with the new CPS board president and car pool. He was after a giant SUV and personal driver, so maybe these agencies could at least share the Grift.