-- 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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Nothing but Fraud.
Federal jury convicts former BSO deputy in COVID aid fraud caseA federal jury has convicted a former Broward Sheriff’s Office employee of wire fraud, the first to be found guilty at trial after 17 agency employees were accused last fall of defrauding a U.S. Government program designed to help small businesses during the COVID-19 pandemic.
Government employees do it at a much higher rate than the normal population.