-- 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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IDES fraud is huge!!! I’d love to forward all the fraud evidence that the folks on my block have collected. I’ve personally had TWO claims pass through my mailbox somehow in the last 3 years. Where can I send this evidence? I’m in West Town. I tried reporting over 20K worth of homestead fraud from a married couple living outside the city years ago to the Cook County Assessor. Unfortunately, they disregarded my complaint and refused to open an investigation because different names were on the tax bills, so I’m not too optimistic. I’m sure that IDES numbers would go… Read more »