-- Connecting the dots between our economy, government and business --
More than 90,000 Chicagoans applied to be part of the city’s study that will test whether a universal basic income could reduce poverty in the city in the first 24 hours after applications opened, Mayor Lori Lightfoot said Wednesday.
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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I liked the pandemic stimulus payments. No application, money just shows up in your bank.