-- 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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Nice to get good paying jobs handed to you
Because Todd Stroger worked out so well when gifted his father’s job five minutes after John Stroger expired.
It actually worked out OK for a while. Toddler Stroger actually won that 2006 election as was president of the Cook County Board for four years. Because in Cook County, you don’t get to pick who you vote for. The power brokers pick the candidate for you and the ‘always vote blue no matter who’ crowd goes along with the power brokers’ pick. It’s quite literally a flaw of democracy. Only four years later, Preckwinkle was hand-picked to defeat him and she became the most powerful Democrat in the county. And now we’re stuck with a 77 year old who… Read more »
My recollection is that Todd was given the reins upon his father’s death and then proceeded to fail miserably, eventually elected or not. He may have been the best they had to fill the gap, IDK. And yes, Taxwinkle has been an unmitigated disaster to taxpayers. To those that she “ guarantees income “ , I’m sure they’ll vote for her until their dying breath and beyond.