-- 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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“Octavia Altheimer, executive director of Black Contractors Owners and Executives (BCOE), categorically opposed the measure, saying non-union contractors will be targeted.
“The trades are gone if you’re not a union, right,” Altheimer said. “You’re gonna squeeze out the little man if you’re not a union. So think about this, this is nothing more than squeezing out non-union members. It’s a squeeze out. And it’s only targeted to Black and brown businesses.””
I’M SO SICK OF THIS LYING ABOUT RACE. This bill will target non-union eastern european contractors too. You know, there’s a lot of them in the market too