-- 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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When will taxpayers organize and bargain??? Public contracts are done behind closed doors without any taxpayer input. None of our elected or should I say mostly self elected officials are not allowed in the negotiating process. From the governor on down/media they cannot be in the negotiating room and we as taxpayers do not get to see the specifics till the contract is voted and ratified by members but have to abide by the outcome. Till taxpayers organize and even unionize we are only individuals without a collective/unified voice. Our government seems to only listen to those that are organized.
Organized and contributing to election campaigns … they get the attention.