-- 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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The big losers will be the families of the people who gamble their family’s money away. But it is okay, the governments take is going to pay for overly generous pensions at the cost of working families. Such a shame that they have no shame and will wreck families for the rest of their lives. The price paid is far too high.
First I ever heard Lightfoot had a daughter, and she sent her to a Catholic school. Lori must have some major cognitive dissonance going on in her head, to praise CPS in words but live life the opposite knowing CPS sucks. As for the casino, SEIU will make out the best, the construction hand outs will be done in a few years, but SEIU will operate the facility for a hundred years.
In Chicago there will be a casino So I won’t have to travel to Reno Slots will be rigged as part of the gig The wallets of some will get really big Hear the shouts of “show me the money” The pols will say “where’s mine honey?” Contracts are many handed to a few Corruption again, who ever knew City control of a place like this I just wonder what could go amiss Jobs appointed big unions glad Profits will be wasted so very sad More freebies added lots given away How can we waste more money today? Thieves will… Read more »
What’s new here? NOTHING! As usual with any government proposal the politically connected make millions and kick back the usual 10 or 20 % to the thieving politicians.