-- 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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Laughable to think about how all those CTA glitterati would have to change their lives if they had to rely on CTA trains-n-busses to get them where they needed to be. The Fed’s recently started requiring some of my wife’s Chicago based staff to report in person to their downtown office at least once per week. Several of them use CTA and MTA on their commutes – it’s a mess. My wife takes the trains when she goes to Chicago. Dirty, late and dangerous. Of course, it was dirty, late and dangerous before COVID too. That’s why everyone was overjoyed… Read more »
Nice jobs if you can get them. Who you know or who you blow is how you do it.
They drive the finest cars available. They are high paid professionals and would never be seen on the trashy CTA.
Hmm, this reminds me of the Obama girls attending private schools…..
CTA leaders know that system is an unflushed crime toilet