-- 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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How does the city define the Chicago River? Do they take responsibility for the south branch? The Sanitary and Ship Canal? Where the sewage is sent to NOLA via the Illinois River and Mississippi. Yea sure they clean it up. You can smell how clean it is on 55 where it parallels the sewer.
I remember a long long time ago when Len O’Connor in his signature monotone voice on WGN said that Mayor Daley had plans for the Chicago River to be cleaned and people could fish there. Len said that the last person who caught a fish in the river was Father Marquette. Still laughing today on his commentary. His political commentary was legendary. What would say today?. Wish there were archives to check out.