-- 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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Lori was simply too obstinate and boneheaded to understand anything. Too many of Chicago residents want zero structure or accountability. We are witnessing the regression of society back to the Stone Age.Chicago is doomed. Ahhh the memories of summers at the Mudhole at Austin and Lake. It was actually a concrete depression that was filled by fire trucks. There wre also small lagoons to the east towards Mayfield. Old Chicago! My eyes saw it all and I remember everything too !
The Chitty is DOA. No money for anything but overly generous underfunded pensions for many years to come.
For society to work there needs to be a certain level of personal accountability. Chicago and the Democrats have no interest in that topic whatsoever. Every day the city sinks lower. Just stay the hell away from that hellhole until it fully implodes.
Watching the Rahm Emanual era, it was clear that Chicago had become ungovernable.