-- 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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Thank goodness some of those jobs are located in the middle nowhere otherwise it would be impossible to live on that in the Chicago area. The pay is so low I’m not sure you are going to attract top talent. 50k to work with DCFS in east St. Louis? No thanks.
Quit hiring incompetents
Given the State faces a fiscal deficit of $3.2B, a hiring freeze is absolutely in order. C’mon Happy Warrior, do something productive for once in your life.