-- 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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Did the homeless get concierge service? Also how homeless do you have to be to get the penthouse suite? Was room service available? 24 hour doorman? Vegan options? Exercise and swimming pool privileges? Massage tables? Enquiring minds want to know.
I missed this gem on the list of reasons to visit downtown Chicago.
Any wonder why downtown is such a crime ridden toilet?