-- 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 posted this on the other thread. Your tax dollars on the way! The Chicago Board of Bducation has been given a 20 million dollar grant from the EPA to buy 50 electric school buses. The thing that is strange is Chicago B.O.E. has has no bus drivers and they usually farm out the bus service to independent companies. Wonder how this is gonna work out.
The buses they are building are garbage,
Most are not running, they can’t get parts,
And when Lion goes chapter 7 it’s over.
Another Pritzger pipe dream up in smoke. A company getting tax breaks to build something no one is buying. Watch and learn, Manteno.
When you hide the facts, you can’t be trusted.
Who do they think they are politicians?