-- 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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If people aren’t preparing for a strike/no schools for their children they are fools, no way even a fraction of these demands can be funded.
Chicago should just file for bankruptcy and void all these public contracts.
CTU contract should be no different than the rest of the state, which are still very generous.
Johnson’s pondering nothing. Gates will jerk his puppet strings, remind him how he got where he is and tell him how much the CTU will receive.
A lot of Chicagoan’s don’t pay taxes and they vote too.
Are CTU “negotiations” the official start of the post-free-Covid-bucks budgeting (I mean spending)? Fasten your seat belts, Chicago residents!
When even Greg Hinz starts worrying about a tax revolt, you know things are bad.
Greg is probably a straight up 1099 independent contractor now, and hates logging into EFTPS to pay his quarterly taxes, which by the way, were due less than two weeks ago.