-- 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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The miss management is bad, but the bigger waste is the concept of building a competing carrier level internet and telecom service to compete with A&T, Comcast, etc. A number of months ago, there was a Public meeting at the Aurora City Hall. That meeting included religious leaders, non profits, The State of Illinois, Kane, Dupage and Will County elected officials, various internet and telecom service carriers and others from the Aurora Community. They had a box lunch – it was nice. The IT manager for the City got up there and proceeded to explain how Aurora was building their… Read more »
Democrat see, Democrat do….
Did they make it RAIN at the strip clubs like all the thieves do?