-- 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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Yeah, since we don’t want workers to lose their jobs, we should keep the bloat and related taxpayer abuse going forever.
That’s my prediction.
CTA is mismanaged. Get rid of incompetent managers, political hires and reorganize CTA before they ask for more money.
A few sacrificial lambs will be fired. More money after that.
If you can’t get it from dad, go pester mom.
CUT CUT CUT.
Stop pace outside cook all i see it’s empty busses.
Oh well no jobs are guaranteed for life, 3000 jobs is a little out of the ballpark, Metra has about 3000, CTA about 1100, RTA who knows this is all about fear mongering so your telling me almost 1/2 of employees will be furloughed.