-- 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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Mendoza, master blame game/ attack dog artist, blames late CAFR largely on Rauner’s outsourcing of AFSCME medical/ medicaid billing to Moreau Shepell–as a totally incompetent company. even though M Shepell is working successfully in many other states. AFSMCME was out to get back there jobs from the get go and discredit M Shepell. Meanwhile, at CC, Cook County Health has hired a private auditor/ billing company because apparently the CC employees cant do the job? Arent those Cook County Heath employees AFSMCE?