-- 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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This is just the tip of the iceberg. Many, many government “workers” do not work.
Business as usual for Public Sector Union parasites. This is common across all of Chicago and Illinois government workplaces. Except for Cops and Firefighters, you could fire 80% of these leeches and the same amount of work would be completed. But since the Public Sector union grifters have criminally colluded with Illinois Democrat politicians this kind of change won’t happen here. it’s not a bug. it’s a feature.
I wonder how many more hundreds of millions of salary dollars have been wasted in this ridiculous way…just because nobody in the government cared. Pathetic. Those in charge of this area should be fired. Period.
This one is hilarious. It took a complaint and an IG investigation to determine what was going on here. The investigation alone probably cost another $50-$100k.
The executive director in charge was unaware of this taking place?
Political animals make lousy managers.