-- 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 wasn’t aware that the neighbors ever ‘warmed up’ to the idea. Must have missed that.
Dulce Hogar Chicago from a dunce.
dumb question– who’s landing the $gigs$ running the empty cps schools converted to undocumented immigrant shelters? City workers?, Non-for-profits? SEIU?, CTU?, XYZ? etc…Are those jobs equitably going to systemically dis-invested community (i.e. black) members?
The voter’s of Chicago are Democrats. They voted for this so it is only fair that the Chicago taxpayers foot the bill on this one.
Lets face it, housing immigrant is possibly chicagos only NEW jobs growth industry (Chicago style)!! I’m shocked all the public sec ghouls aren’t out demanding all the jobs go to their members..