-- Connecting the dots between our economy, government and business --
“My conversation with the mayor has been around his priorities for the parks. He wants me to address homelessness in the parks. He wants me to ensure that our parks are safe spaces for young people. He wants me to expand youth opportunities. He wants me to ensure that we have equitable facility and capital improvements,” said Carlos Ramirez-Rosa, the youngest Chicago alderperson ever and the Council’s first Democratic Socialist.
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
A second pension
You can’t make this up, another laugh until you cry story about dumb decisions by Johnson. Qualifications not needed.