-- 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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Another way to “generate” $80 million in revenue is to cause $80 million in cost-cutbacks to “gimme-gimme” city-subsidies to residents and businesses. Let’s stop the “grants” to non-profits and storefront churches. Let’s stop the “free stuff” handouts. Let’s get people back to working, noting the large number of service-sector jobs that are unfilled at present.
Lightfoot spends a HUGE amount of taxpayer-generated city dollars trying to buy votes from able-bodied pseudo-“victim-class” residents.
It’s just too much money for bribes and payoffs across the city. Lori is showing her deep concern for animal rights; she’s not going to kill the goose!
It was always about the money.
Lightfoot’s Crooked, Corrupt, Predatory, Regressive, Revenue Robbery Ripoff Racket Speed Camera Ticket Drivers — For Going As Slow As 26 MPH/6 MPH Over The Limit — Cameras Have Done Nothing For Safety, While Pushing Low Income Drivers Into Bankruptcy – Center Square