-- 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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Another twist on this is that Chicago has already had 21 expressway shootings so far this year. And remember– the weather has been terrible the last few weeks– so wait to see what happens when it gets nice out.
And a friend who lives right on the Drive near 1100 N. Lake Shore Drive tells me his neighbor found a bullet hole in his sixth floor window the other day. Must be some really bad shots out there.