-- 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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A wide variety of grants, loans, and bonds in various Federal, state, and local government programs involving state and Federal legislation snd local ordinances, frequently including non-profits and contractors, interspersed with DEI.
The only way to monitor all that is with a dedicated watchdog, which does not exist.
Someday the bureaucratic paperwork piled up will be taller than Jack’s beanstalk.
But Jack is now Jill and Jill is a furry.
At least Yvette Shields provides a good overview of several of the programs.