-- 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
TAX MONEY GETS FLUSHED DOWN CHICAGO’S TRANSIT TOILET: City Is Wasting Tax Dollars On Projects To Support Obsolete, Failing, Crime Ridden Transit – Chicago Tonight; Metra Is Living Off Biden Bailout Bucks – Center Square; Mass Transit In Democrat Cities Has Devolved Into A Crime Hellscape – Governing; Half A Billion Dollars For Union Station Boondoggle – Chicago Sun-Times; Biden Spending Billions For Transit On Race Hustle Nonsense – Governing
Why not address this by chopping the schedule to a level you can afford? You offer the commuter a dreadful experience anyway! Nobody is going downtown, who’d care?
Correct. Morning and evening rush hour trains with one midday train and a few evening trains.
I ride the BNSF and they cut our morning and evening express trains from every 20 minutes to every 30 minutes. They save a little on fuel but the question is did they cut any employees?
Oh come now, those are solid blue union patronage soldiers, they don’t get cut, ever.