-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Once again, why has Chicago only spent 15% of it’s fed COVID funds dedicated to homelessness??
https://illinoisanswers.org/2023/08/10/chicago-homeless-people-city-spent-15-percent-52-million-federal-money/
Let the Boondoggle begin!!!
This is the city going down the path of San Francisco with a Homeless Industrial Complex.
San Francisco spends 10x of ANY city in the country, that’s where this is headed.
A new tax and a new patronage hiring event. Who says nothing new happens in Chicago?
Another do nothing bureaucratic political dumping ground