-- 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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Does every taxpayer and voter understand that there is virtually ZERO oversight meant to discover this sort of fraud by public school administrators? And, if evidence is unearthed AND not covered up by insiders, it is nearly impossible to recover damages…or even make sure that the fraudulent school administrator is not still eligible for taxpayer-funded pension and free health and life insurance beginning in his mid-50’s? Does this enrage you? Then why don’t you DEMAND YOUR SCHOOL BOARD CONDUCT FORENSIC AUDITS OF EXPENDITIURES AND TIMESHEETS AND TAXABLE FRINGE BENEFITS. Make sure any auditor is verifiably free of conflict with that… Read more »
Not enough