-- 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’s all about Afscme (CTU, etc) making sure they secure the public health gigs away from private/non-profit providers before the fed Covid $ run out, after which Chicago/Illinois tax payers will have be on the hook to pay the bill: CDPH’s budget topped $1 billion in 2022, thanks to more than $775 million in federal grant money funneled to the agency to address the COVID-19 pandemic. But in 2023, as some of those grants expire, CDPH’s budget has begun to shrink. Arwady previously said that about 90% of CDPH’s budget is made up of federal grants, 75% of which are… Read more »
Also, Im sure Afscme, fop, etc will be going after signing up whoevers hired to respond to 911 mental health calls that CTU/BRANDON pushing for. And maybe even all the ‘anti-violence interrupters’ for all the amazing work they’re doing….the public sec union growth opportunities in the mental health racket are endless!!! With dopey taxpayers/voters signing off as usual