-- 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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It appears that the only people not stealing money in Illinois are the Wirepoints staff and commenters!
Greed begets greed.
The whole public education system seems to be set up to be the greatest grift in history. Time to turn the lights on.
Fraud? In Illinnois? I’m shocked, shocked!
I have to believe this is happening in most government schools and agencies.
Even when they are caught, they are not prosecuted Lawrence Wiley of New Lenox public schools accused of stealing millions, was considered too old and unhealthy to stand trial. How many politicians and connected people are on the take?
Maybe that’s why some of these public-sector employees, especially the highly paid ones, routinely work beyond their retirement ages. It must be because they have so much to offer in their 70s, 80s, and beyond. It couldn’t be because of the greed of holding onto cushy jobs.
And the libs here in Evanston clapped like trained seals when he was hired because he was all for “equity”, lol…
Business as usual in Chicago and Illinois.