-- 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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Hire more of my relatives for do nothing jobs..
Lynwood Mayor Jada Curry: “If you hand me $6 million today, I can do some transformative things in my village.”
Let’s all pitch in to help make that happen.
She could have at least stated her request in a less, you know, entitled way.
All the free money is gone! Better figure out how to run your town without anyone handing you $6 million!
Performative phrase: “hand me $6 million”. Welfare-state mentality; perhaps Winnetka can sister-city Lynwood and provide financial assistance, much like Chicago Archdiocese program where wealthier parishes sponsored (subsidized) poorer parishes.