-- 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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Good, start now because it will take them 5 years to agree on the definition of the word infrastructure.
Apparantly her infrastructure spending spree is all done with borrowed money? Shouldn’t the city be able to use their fed ARPA funds instead of borrowing? Or is city assuming they’re going to get a big load of cash from Bidens, yet to be passes, infrastructure plan to payoff loans/bonds?….or who cares, as usual, just more irresponsible $billion$ borrowed on the taxpayers dime
Oh god, another “phase” program. Thousands of jobs ? To lay down a crappy skim coat of substandard “asphalt” that will just be torn up next year? Be real, Ozinga, Walsh and the rest of the clouted contractors don’t need no stinking new employees to gouge the city.
Spot on
5 year plan only one problem little girl 1 term mayor and out adios
Full-on socialist now, five year plans? That will work about as well as it did in the USSR