-- Connecting the dots between our economy, government and business --
A Brookings Institution study concludes that while the metro area is growing more slowly than other large cities, we're making progress on prosperity and sharing the wealth among those who remain. "The data suggest to me the region is losing relatively low-income jobs and population but gaining on the higher end of both. That’s consistent with a shift from manufacturing and lower-end positions to a so-called knowledge economy, and consistent with other recent reports that the city is losing lots of black residents but college graduate rates are rising quickly among those who remain."
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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It appears to me that Crains is a left wing biased publication. I also believe that Hinz is a typical intolerant hate-filled liberal democrat.
This is exactly opposite what all other (shall I say ‘non-liberal’) institutions are reporting. It’s also opposite what the actual facts are showing. People are leaving IL at record numbers and those people are high-income earners who are taking their money with them.
The ultra-rich that remain are getting wealthier just as they are in California and New York.