-- 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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Are the taxis owned by the city? Will lori propose a surcharge for beers? The cost to produce beer is rising also. Will Lori propose a surcharge on lawn mowing? Will Lori propose a surcharge on tanning? Electric rates going up up up. Will Lori propose a . . .
I propose that Lori instead leverage this development by tacking a surcharge onto outbound moving companies and U Hall trucks.
It would leave her base taxi patrons with more cash in their wallets while raising even more money from people who are leaving for good anyway.