-- 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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Worth noting on independence day:
“A Republic sir, if you can keep it!”
Benjamin Franklin
Chicago is a write off — level it to the ground and use the land for a walled giant prison — a la “Escape From New York”
My old neighborhood, 30yrs. Portage Park, 6 corners. Spent a lot of money at the Sears store. Glad we escaped, the area has slid downhill tremendously.
It has slid downhill tremendously. It used to be as safe as the northwest side. Now it’s got more in common with the west side.
The problem arises from the culture of mayhem from the kids that live around there. They just go crazy on the weekend, no adult supervision, it’s like a coming of age in chaotic mayhem there for the children of the illegal immigrants in Portage park.
How about we let the cops fight back, instead of having to endure rocks and fireworks?
Cops are dispirited – can you blame them?
I don’t think there’s enough time to turn this ship around – time to man the lifeboats and escape before it’s too late. Many citizens, and cops, are doing just that.