-- 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 contract is our love letter to the young people of Chicago that we have their back,” CTU President Stacy Davis Gates said.
I’ve smelled some schite in my day. With the aroma of Gates’ words firmly wedged in my nostrils, I could stand waist deep in a freshly filled Stickney settling pond and hardly notice.
It’s easy start a spreadsheet with the money available at top and subtract costs until it reaches zero and they your done!
Like Chicago Schools no math required to graduate.