-- 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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Chicago Bankruptcy 2025!
Not while JB is in office. Better hope he doesn’t run again.
CTU are parasitic vermin, deeply stupid and drunk with hubris and a delusion of power. The destruction of CTU will be a new birth of freedom for Chicago and for Illinois.
Stop it, by comparing the CTU to parasitic vermin, you’re giving parasitic vermin a bad name!
I don’t know if it’s “delusion of power”. I would say that CTU is pretty powerful. Enough to get their candidate elected to the mayor’s office. Seems pretty powerful to me. They also now have a constitutional amendment that virtually guarantees their existence in some form. I think you are the one that’s delusional if you believe they are about to be destroyed.
Destruction can only come through bankruptcy and Chicago has been driving down that path for a while now. People should prepare for a long strike or going without being able to afford food.
A bankruptcy wouldn’t eliminate public unions. Even if bankruptcy canceled all contracts you would still need to negotiate new contracts. The CTU isn’t going anywhere.
Those voters are adept at hiding what they want. They have voted for none of these items. Instead, they voted for unions. By the transitive property of politics, that means they have forfeited their right to actually vote on these ideas to negotiations over a teacher contract. It’s clearly what voters want!
Wow, you downvoters don’t miss a beat. 3 min after posting! Should I be paranoid and think you are stalking me?
I’m all for combating climate change, and yet even I think turning the CTU into a Supreme Soviet is an extremely bad way to go about it.