-- 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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Nope!
Downtown, Millennium Park, and Michigan Ave retail corridor are one more Floyd riot away from inevitable financial decline, and worse, that anticipated 2021 riot is nonetheless likely to occur without anymore advance response-preparation from Lightfoot’s City Hall and CPD bosses. 2020 riots demonstrated total leadership failure of both Lightfoot and Preckwinkle, and Brown’s CPD administration. Recording of Lightfoot’s post-riot phone conversation with alderpersons should be posted here for everyone’s reference: her hubris, arrogance, and stupidity is both astounding, and frightening. Chicago as we knew it is GONE.
It’s already gone. Walk around downtown. It’s dead.
As always, a question in the headline always implies “No” as the answer. The Trib editors know this.