-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
$5K?
He sells himself cheaply.
At first I was like, “Yes, KWAME is finally doing something!” And then I was like, “Oh, wait, it was the feds again” probably stumbled across his name while investigating parents attending school board meetings
of course…huge public pension was not enough I remember when Obama ran for President and there was critcism of IL political corruption….and Obama et al asked Jones II to put some sham public corruption bill thru the Assembly… the usual in IL—no material public corruption oversight–Chicago Tribune and FBI was only oversight we had–Trib now turned into a comic book by Alden Capital—now we only have the FBI. The two key issues for IL–continued (for decades) no action from our politicians: (1) Tier 1 public pensions and overall public union remuneration and (2) massive political corruption (unabated, for decades). Plus,… Read more »
No big surprise here.
Illinois Democrats have been in bed with the crooked red light scam-cam industry for years
https://www.illinoispolicy.org/after-1b-in-tickets-and-4-corruption-indictments-illinois-should-shutter-the-red-light-camera-industry/
Even IL Democrat AG Kwame Raoul is on the payroll of red light camera racketeers
https://chicago.suntimes.com/2018/3/9/18367837/illinois-deserves-a-conflict-free-attorney-general
Bailey needs to jump on this and state to all he will fight corruption and ban all red light and speed cameras. Put Pritzker on the spot.
Bailey will get to this, but right now he is going after a much larger concern, the “Safe-T Act”. Murderers, kidnappers, car jackers, need to be put in their place, prison and in my opinion given the electric chair and make the streets safe for all. To heck with this equality crap! Or the excuse they do it because they are poor. Criminals need to be taught how to live in a civilized society and the 10 Commandments! And the security given to the governor and lightfoot need to be pulled immediately, they need to live like the rest of… Read more »
More corruption.
Jail time.
I suppose I have two thoughts in response to this article, and the other discussing the Department of Corrections getting caught at having created fake “temporary” positions that were career-filled with friends-n-relatives-n-insiders of other state employees w/o public posting.
One is that for every “one” of these things we hear about I believe that there are 10, or 100, that don’t see even a glimmer of the light of day.
The second is that if it weren’t for the Fed’s (eventually) getting interested in some of this stuff, we wouldn’t know anything about any of it.
GG, you do see it indirectly with the “high” of just about everything in Chicago from property taxes to sales taxes to gadoline to getting one of these red light tickets in the mail.
Off topic – but in a way not:
https://www.justice.gov/opa/pr/us-attorney-announces-federal-charges-against-47-defendants-250-million-feeding-our-future
Similar to Illinois, what wonders what the heck the State of Minnesota was doing by permitting this to go on on. It is a massive alleged fraud.
Lying to the Feds is not advisable Emil.