-- 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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While draconian, I don’t doubt that large gatherings of multi-generational households in the forest preserves has contributed to additional coronavirus cases at these particular forest preserves. A few weeks ago I went to a local forest preserve – not on the list of closures – and it was packed full, the lot was almost completely full. It was just small groups of people though and no large gatherings likely due to the lack of picnic tables and shelters. It’s like the one place people want to go and hang out, and get out of their house, is crowded.
That’s because mayor in her (doubtful) wisdom closed a significant portion of Chicago’s open spaces (the lakefront) and refuses in her vindictiveness to reopen in spite of all emerging research indicating virus transmission outdoors to be minimally risky. Chicagoans living in small apartments are chased from a place to place in their search for open space, sun, and air. And that space is being limited instead of increased….. because we are all, after all, supposed to stay at homes while the leaders are enjoying their spacious estates…. (looking at you Pritzker)