-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Taxpayers need a mechanism to uncover school district fraud and embezzlement, and spending in violation of law. The principal recently charged with fraud required co-conspirators to be paid overtime for hours not worked. This (phantom) overtime would go toward their creditable earnings and result in boosting their retirement benefits. It is also unlikely her co-conspirators paid the taxes on their phantom incomes out of their own pockets, so their complicity cannot be labeled as innocent or coerced. Many individuals had to participate for this fraudulent scheme to work. These Individuals were willing to defraud their community—essentially stealing money from children… Read more »
Her intentions were good, two weeks probation and a transfer to DOWM.
is it just me or is the DOWM the recipient of all the do not fire unemployable relatives of cousins and friends of cousins. Nobody knows what goes on there and everybody is afraid to look! It’ll turn into how long have you known about this! It’s the Animal House of city departments. It’s also punishment to be sent there, a lot of the work involves using a shovel. Being a junior employee there is like a road gang sentence.
It just never ends in this state