-- 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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It was those pesky Russians again.
‘“The contract negotiations with AFSCME need to take place, and we’re going to have to come to resolution there, and there’s going to be some costs associated with that,” he said.’ Get ready for those “costs.” This will be a litmus test of how Pritz intends to deal with unions throughout his tenure. My guess is that he will go in and tell them, “give me something, so the media can say I got a win, here,” and then give them everything they REALLY want. They will deceptively spin the costs of this, while the union tells their members with… Read more »
Gosh I sure hope he grants them the 37.5 hour work week, how draconian to expect them to work 40 hours.
Every extra dollar AFSCME squeezes from JB is a dollar JB cannot spend elsewhere.
This dispute will get resolved. Fat ass will give AFSCUM whatever they want plus 50% for their inconvenience