-- 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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JB the Hutt will be Santas Claus with confiscated taxpayer funds for this too, just like he will be for the RTA’s craven and cowardly executive directors.
Mayor Cliff Notes suggested paying current expenses by taking out loans. That should end with a thud.
Come on folks…it’s going to happen. He is just making headlines blaming and claiming foul. Once that dust settles…a nice deal making meeting in a dark back room in Springfield will happen and money will move. It’s what CPS is planning on, that’s why they are doing nothing to address it internally.
Completely disagree. JB and BJ do not work well together. There is nothing currently yet in it for him to help Johnson and he hasn’t helped him much before.
Hope you are correct.
I hope you’re right, but I wonder if Chicago hasn’t begged or cried enough for the money yet.
No doubt Johnson doesn’t help his cause. He is completely inept at working Springfield so any other mayor would have a better chance. None of that changes the fact that JB will want to shift money to Chicago for CPS when he already has a massive transit issue. Springfield will come through for that before CPS, IMO.
No more money for CPS until they start behaving fiscally responsible. Close underutilized schools and lay of their staff. Layoff all staff hired with COVID funds. Streamline administrative staff and eliminate redundancy. Stand up to CTU and Johnson. Until this is done, no more money for CPS. Besides, Pritzker is funding illegals instead of US citizens for college. JB is starting Get covered IL to fund healthcare fore illegals. Pritzker spent the taxpayer money on illegals.
Let’s add the effort to get back all of the laptops lost during Covid before any new money is tossed into them.
When something is irreparable- it’s time for demolition.
Does this clown ever accept responsibility for anything without trying to shift it to the federal government, i.e. Trump? Since when did the federal government become a source of revenue for ongoing state and local problems (I mean except for Biden’s autopen money printing machine which produced runaway inflation)?
How long does the “blame it all on DJT” game for are highest paid in nation ctu, massive # of empty schools, etc, etc keep working?? Who are the dopes left that are still sipping the kool-aid??
Pritzker needs CPS to support his nonsense. He will find a way to slip them cash and of course it will be through higher taxes because we don’t want to leave those hard working, incredibly intelligent, best in class, philanthropic, overly generous teachers without best in class healthcare, grossly exaggerated salaries, lifetime care and pension payments for the rest of their life.
“And it’s not because we shouldn’t. We should. We should try and find the money, but we don’t have those resources today, and we’re not going to see the resources from the federal government level either.”
Wrong on so many levels. No, the state shouldn’t bail out CPS and their poor and irresponsible spending. Secondly, the Feds aren’t your sugar daddy and to imply that the Feds are responsible for any of the bad budgeting and spending by CPS or the state just shows how ridiculous and stupid Governor Happy Meal Warrior and the rest of the dems are.
Time for CPS to just collapse.
State needs to authorize chapter 9 bankruptcy for the CPS.
The judge than can re-adjust all the pensions and CTU union contract to real world.
Time to face the music Chicago/ CPS,
and now playing, A funeral dirge.
Please omit flowers.
Prepare to grab your ankles once again Chicago homeowners and give a squeal for upper-income CTU/Stacy & crew!!…I can’t hear you???
This time it won’t be vaseline it will be vapor rub.
It will be Vaseline…but there will be sand in it!
There’s already a Metra Locomotive, a CTA bus, a CTA train and a PACE bus shoved in there. Not sure how much more my taxpaying bunghole can take a this point. Unlike JB the Hutt, we regular folks don’t have offshore trust funds available to pay for this incompetence.