-- 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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“The northwest suburbs, meanwhile, are still plagued by large blocks of empty space and had a vacancy rate of 31.1 percent at the end of the quarter” I feel like this is improving, slowly but steadily. Young couples move to the ‘burbs from the city usually sometimes after the first child is born. CPS’s threat to strike and it’s general overall awfulness will only accelerate that move and the NW suburbs is in prime position for migration. Great schools, established infrastructure, less congestion. The company I work for has offices downtown and in the NW suburbs and I prefer the… Read more »