-- 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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***—Caprara, who is getting more than half of her $298,000 salary from the governor directly, contends such employees follow all ethical guidelines.—***
This just proves they are not following the ethical guidelines, if they were actually being ethical, they would decline the *JBP bonus*…
This is technically unconstitutional because it creates staff loyal to him and not to the State of Illinois.
But you don’t see anyone challenging this in court.
Anne Caprara making $300K/year as a political gadfly is lame. I don’t think she’d have been poached at $150K, let alone $300K. Supply definitely exceeds demand in that sector.