-- 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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I want my children raised in a rich cultural environment! Here, shoot my kids!
“It has also prompted a wave of people leaving the city, Jenner said. Young couples want to move to the south suburbs to have space for their children, office areas within their homes and bigger yards for outdoor activities after experiencing how their lives have changed over the past 15 months.”
But but but everywhere else I read that the city is so exciting and coming back to life and everyone wants to stay in Chicago?
Oh who do I believe?