-- 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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Since Jabba lied about needing this makeshift hospital he’s going to pay for it, right?
It’s better to have it and not need it , then need it and not have it. McCormick Hospital could be needed in the future. ?
Richard, then why not build out 100,000 more beds? Why not build radiation-proof bomb shelters? Why not require every car to be armored and injury-proof?
Mark, those are good ideas. ?
It seems to have been a contest between Illinois and Ny governors and who could whine and complain the most. They were never prepared for anything. Now all the money has been wasted–typical Illinois. Waste tax waste tax
I’m happy there was never a need to use it but at the same time, there were 3000 hospital beds at the ready. Why not take a look around and say you can try opening things up a bit. If things boil over to where you need mccormick place then the public would see that and understand why things need to be restricted. If you open things up and mccormick remained empty, then you know the worst might be over and you can continue opening up.
And the longer this goes on, the more people will start asking those sorts of questions. Fat boy has no idea what the ramifications of his idiocy are, though he’ll see in time…