-- 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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Anybody got a light?
Chicago has never been the same since those riots, you know. Chicago will be worse for the wear after this. Suddenly, all those rich folk in Lincoln Park realize that the north shore has been the north shore for a hundred years. Welcome home, friends.
Sadly, you are correct. ☹️
The State of Illinois declared that “rioting” took place in the City of Chicago on Saturday May 30, 2020 and Sunday May 31, 2020. Furthermore, the State of Illinois declared that rioting also took place in Cook County suburbs, as well as communities in Champaign County, DuPage County, Kane County, Kendall County, Macon County, Madison County, Sangamon County, and Will County on Sunday May 31, 2020. This is per Governor JB Pritzker’s “Gubernatorial Disaster Proclomation” dated June 1, 2020. …”Whereas, these circumstances rise to the level of rioting in these areas and constitute a disaster as provided… Read more »