-- 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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Why on earth do they believe a tax will bring prosperity? If anything these jamokes should be saying there will be a sales tax holiday, as well as any other breaks for vendors, free parking would help way more. They think they can use marketing to revive the mag mile while at the same time telling every shopper to have shop in fear by wearing a mask, pay for parking, and buy stuff at premium prices to boot. And on top of that there are no shopping carts like at Wal mart or target. You literally have to manually carry… Read more »