-- 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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“ Well , the ramifications of the situations and reverse spending techniques coupled with an economic downturn and lack of funding have created a non- equitable situation in the transit system resulting in a negative economic impact. But I still draw 375 K a year to accomplish nothing and spout mumbo jumbo.” says Carter.
astounding CTA still has $481 mil in COVID $bucks to spend but is crying poor. From state to, city to, to agencies, etc who can the chump taxpayer/voter trust when all these hustle artists cry poor? especially when it comes to all the COVID $bucks still unspent.