-- 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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What a clear example of how the city is out of control. From the perspective of the police, who I sympathize with totally, no one is shooting at each other (yet), so there’s more pressing violent encounters to deal with, especially with less officers. Not condoning this, just showing how ridiculous things have become.
All those benefits of living downtown………
Upscale living!
Walk to work!
Great bars and restaurants!
Safest police district!
Cultural events and festivals!
……….have all disappeared and are never coming back.
These haven’t quite disappeared but they are quickly fading as residents realize that Chicago circa mid-summer 2019 isn’t ever coming back, and that equity is here to stay…
Agreed, fading away a better description. It will take a long time to hollow out the downtown, but the tipping point is lower than you think as people join the herd and leave. Let’s call it fear of being left behind as many of your friends and acquaintances leave. This has got to be the main topic of discussion from area residents as they compare notes.
The Wildlings have full control of the Loop now.
Chicago, Darwin’s Pillar of Hell. Teens and young adults playing with gasoline and fire! The Tide Pods crowd at play. Where’s my glue!