-- 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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I like the sound next mayor . To me it sounds like Johnson is gone.
I bet you had similar thoughts when Lightfoot was leaving, too. Let’s make a pact to never again say “it can’t get any worse.”
Deputy mayors. Deputy governor. Deputies to the assistant animal control commissioner. IL is awash in deputies, more numerous than but none as effective as Barney Fife.
Because it’s only taxpayer money, there are no restrictions on the number of highly-paid deputies and assistants Chicago can create; some with dubious responsibilities. And once they create these positions, good luck in trying to eliminate them.