-- 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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Sadly, use of an existing facility makes stealing difficult. Material mark ups and overcharging for everything, excavation contracts, etc. How can the facility be disinfected after treating thousands of Covid patients? Using an existing facility will also cut down political donations from contractors. Could we survive without blowing billions on a boondoggle.
If I recall there were few or no patients brought to the location. The whole thing was a giant money wasting boondoggle
I think the facility treated one patient! Follow the money.