-- 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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With the cost of gas and all those tolls in Illinois you should have the best road network in America. Since you don’t I suggest you look around. For example in Michigan we have cheaper gas, no city of Detroit stickers, and no tolls anywhere unless you cross the Mackinaw bridge or cross into Ontario. Now I’ll grant you Michigan roads are nothing to write home about but at least we don’t get bent over daily to use them. I once had to pay a 25 cent toll on I-94 driving to Milwaukee from Chicago! For an example of what… Read more »
Labor racketeering is a big reason why the Jane Byrne interchange is years behind schedule, hundreds of millions over budget.
https://www.chicagotribune.com/opinion/editorials/ct-edit-jane-byrne-interchange-budget-20200505-dvqyiyaklbfl3ote54cbj67qki-story.html
14% over 3 years, 100% paid medical premiums, pension fund, 100% greed total greed over Covid-19 and time off and a few other things I would imagine, total 100% greed stay out for the next 10 years for all I care union greed.
Illinois, home of fake construction contracts, ghost payrolls and skim coat road resurfacing. That Weber Road exit off 55 has been milked and squeezed for almost a decade now and it looks like a 2 year old designed it. People will die there.