-- 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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Hmm, I remember when Six Flags was the Cedar Point of Illinois and Gurnee was a real outlet mall…..
Old Joe, I remember Belle Isle!
Yeah, the used to hold the Gran Prix formula races there back in the day. I hear it’s slightly better now that the State of Michigan took it over from Detroit and operates it as just another state park. Haven’t been there since the 90s.
By any chance was it Cracked Pepper Spray? It tastes better and is a little fresher.