-- Connecting the dots between our economy, government and business --
U.S. Rep. Darin LaHood filed legislation in the U.S. House to ensure federal money supports essential government services during the COVID-19 pandemic – not mountains of pre-existing state and local debt and financial mismanagement.
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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You don’t need to live in Beirut to have a job anymore. Zoom has taken over. It is time to wall off cities and let them have their own rules.Each city can be run by Chaz warlords. As long as the warlords can keep the Chaz people inside we are fine.
Fantastic, sure bill will go nowhere but bill puts jb/ illinois dem machine & public sect unions on the spot as complete unethical /immoral phonies…shamelessly using the covid epidemic to bailout there zero risk/ upper income retirement deals (129,000 projected pension millionares just at state level)…while people are suffering. Sure the mainsteam press will chear on jbs pension bailout plan as NO MORAL HAZARD….what will a state worker in Wisconsin, for example, who has contributed to his ‘shared risk’ zero debt pension plan think if illinois uses covid relief funds to bailout pre-pandemic pension debt? And beyond all else, if… Read more »