-- 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 weasels descend before the fires have even been put out. Chicago, you are a tone deaf hellhole. A wall should be built to keep your idiocy contained.
People will be fleeing the city. After the 1968 riots, it took a generation for the city to come back. IIRC the last major skyscraper built during this era was the sears tower and it was a while before another one was built. Some suburbs like westmont, buffalo grove, and park forest, with their miles up miles of 1970’s split levels, exist solely because families fled the city of Chicago of the suburbs. It will be two decades before chicago grows again.