-- 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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Why not build rows a garden sheds for occupancy? Like Bubbles on TPB.
Is there where they start complaining the minimum wage means nothing because employers are already paying above it? “No fair, I’m already making $17/hr?!”
It’s amazing any homes get built in Chicago, with taxes, regulations, City Hall shakedowns, crooked unions, and hostile city government.
Well, DUH! Because the state is losing people, we don’t need new housing.