-- 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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How about getting the hell out of the way and let the people create their future?
“Or a Chicago that narrowly focuses on a few people’s dreams, even if that means the rest of us are living nightmares?” That sure reads like he’s grouping himself with the so-called underserved and disinvested. Conversely, I think he’s been doing OK.
There are three types of money: Eatin’ Money, Investing Money, and Fun Money. They rank in priority in that order from most to least importance. Eatin’ Money: The required spend just to survive. This includes: Rent, Insurance, Fuel, & Utilities. Basic stuff. Investing Money: Money set aside to generate a dollar-based return in order to pay for unforeseen contingencies in the short-term or fund a retirement in the long-term. Fun Money: Money that generates a return right now, with no future financial benefit to the direct investor. This includes: Restaurant Meals, Vacations, Hired Landscapers, & toys. They also rank in… Read more »
“The things that we just cannot afford to sacrifice are youth and workforce.” For the latter, I’m guessing he means the public union workforce.
The former is the CTU, also the public union workforce.
Here’s an interesting development or rather no development.
https://www.yahoo.com/news/university-illinois-cancels-plans-downtown-235300004.html
What is Brando talking about–1,000s of new affordable homes?? From googling “Harvest Homes” HAS BUILT 36 APARTMENTS TO DATE!! And Chicago new apartment/ housing construction is deader than dead in the water.
Johnson is the one focusing on meeting the demands of a militant union–to the detriment of everyone else.
On top of that, he has managed to make the city even more unsafe by terminating Spotshotter.
If Johnson wanted to create any kind of hopeful future for Chicago, he would help law enforcement do its job.
If not all Chicago CPS should declare bankruptcy and let a judge straighten out the pensions (cut) and hopefully force a new contract with real world rules.
A bankrupt city is a nightmare for everyone.
He is the king of divisive jagoffery.