-- 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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Absolutely sickening. JB & dem machine blaming DCFS flop on understaffed which they still blame on Rauner. But DCFS has an astronomical annual budget of $1.5 billion + crazy pension/benefits to service 61,000 calls?/7,100 kids? And nobody in press offers any analysis on how all those DCFS $ are spent, or how many $ are spent per case, or if the DCFS afscme heros are even on the job with jbs covid work remotely order, or what other states are sending to provide similar services?
Remember this come November 2022 vote Pritzker out of office
DCFS, along with the Illinois Division of Rehabilitation Services, were put in the position of replacing many of the services previously provided by mental health and psychiatric facilities closed in the ’90’s (largely by Democrats – Quinn and Emanual mostly). These cost savings motivated closures (had to come up with money for pensions somewhere), were badly camouflaged as replacing “evil” institutional facilities for the homeless, and the physically and mentally handicapped, with private sector residential housing. Which is to say, insufficiently vetted individuals motivated by taxpayer-funded income who attempted or pretended to provide required assistance to abused and/or disabled children… Read more »