-- 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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One would think AFSME, SEIU, CTU, etc would be all over trying to organize/unionize all the new employees (contact tracers, violence interrupters, etc) resulting from all the ARPA fed $bucks$ being doled out to “community groups”? or at least see they are getting prevailing wage?….oops, that would mean all those folks would have to be getting an actual payroll check with deductions and not treated as independent (1099) contractors. Does anybody @ State of Ill, CC, City of Chicago check?