-- 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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As someone who has worked in non – profit “workforce services” I can assure you that these “youth jobs” programs are totally bogus. Any of these “youths” can go out and get real jobs in the commercial sector, there are plenty of openings. And WHY are they paid $20.00/hour in any case, these are “minimum wage” gigs at best…
Chicago can’t afford these $20/hour make-work jobs for youth.