-- 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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Wonder if Katrina will see any jail time. Wonder if Katrina will ever make restitution payments for tax-payer monies she stole. Wonder if Katrina was ever gainfully employed herself.
Interesting to note that several gangbangers arrested for violent crimes also carry paperwork to indicate Covid-subsidy fraud. Savvy enough to commit white-collar crime, not savvy enough to hold a white-collar job — hmm.
The amount of PPP loan fraud is staggering. Entire neighborhood applied for loans as self-employed individuals requesting the $20k maximum. When you look up their names in the databases, none have applied for forgiveness despite being available for months now.