-- 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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How about Mendoza focuses on releasing the CAFR for fiscal year 2021 before fiscal year 2023 starts?
Susie claims she paid off the bill backlog, which was ALL previous administration(Rauners) fault, without help from all the $billions$ in fed covid stimulus?? And zero mention of all the $billions$ still owed to payback unemployment insurance loan?