-- 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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Talk about a carve out! That’s just blatant.
As I have said before, Arlington Heights for the Bears is a puff of smoke. The Bears are cheapskates and will never kick in any significant funds. Arlington Heights is a midget in the muni world and can’t contribute diddle. The infrastructure costs are in the billions and none of the transportation agencies have a spare nickel. And the plan for all the commercial development is laughable. Does anyone on this fantasy ride read stories about foreclosures on commercial properties like ten office buildings downtown– even the Board of Trade Building? Let’s get real here.
Our legislature is so petty….