-- 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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Too bad I’ll never visit another restaurant in Chicago again!
Me neither, plenty within 1mile/5min of my house, and if I can’t get in at 6:30 on a Saturday I just expand that to 3 miles/15minutes and I’ll find one. Not as exciting though as when I had bullets whistling past me at 24th and Western when we ate in the Heart of Italy