-- 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
The ‘United We Move Illinois’ union lobbying bill SB0005 is essentially a EBF for METRA, PACE & CTA, with major funding component to switch to a much higher direct taxpayer funded % non-fare funding formula with ZERO commitments to cuts or efficiencies as usual. They’re also the group (goons) pushing for tax on mileage to fund public transportation. Why they get to post their lobbying bs in trib is pathetic. Why they don’t just post link to Sen Villivalam Bill-SB0005 (https://www.ilga.gov/legislation/billstatus.asp?DocNum=5&GAID=18&GA=104&DocTypeID=SB&LegID=157095&SessionID=114) or their web site (https://unitedwemoveil.org/legislation#c4d3bbd0-2491-4902-a024-831e5135c676) is equally pathetic. This is a big $$$deal$$$ folks, from SB0005: Synopsis As Introduced… Read more »
Big picture, with all the ARPA-COVID fed $gravy train$ running dry and Trump admin threatening to cut more fed funding, are public sec heros are desperate to lock-in funding with ZERO cuts, ZERO layoffs. There are all kinds of other bills introduces or proposed for similar EBFs for Higher ED, etc. Hard to keep up with all the bills. 99% of chumbalone Illinoisans have no clue and don’t even vote. I’m old and retired (I hope) so I have way to much time to read about all the despicable shenanigans. So depressing. Greg Bishops-Illionis in Focus/Center Square daily youtube are… Read more »
I will sum the article up for you; “Blah blah blah we need more tax money.”
I did not feel safe riding on public transportation when it was safe, now it is much worse.
Many people, I mean many people will never ride on public transportation.
Let the mayor and chief of police have their daughters ride on it first, then I will consider getting back on it.
Many everyday citizens are attacked now it seems. Only ride in certain during certain hours. If you have CC that’s best.
The vast majority of us don’t want to get involved in shootouts with thugs. That’s one reason why we severely limit our trips to Chicago or don’t go there at all.