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As Chicago prepares for the 2024 Democratic convention, Mayor Brandon Johnson will face questions about how much he can and should spend to get the cash-strapped city ready, and whether spending tens of millions of dollars makes sense. Boosters have predicted economic returns of $150 million or more to cities that hosted them recently, but economists say those numbers have been overblown. With local spending on things such as police overtime and infrastructure improvements, will the city even break even?
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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I fully expect flash mobs and looting. The criminal element from out of town will be high. Will be great for many citizens to simply leave town for that week.
The photo speaks volumes. The convention will be a mob of drunks. The streets covered in vomit like Lincoln Park on St,
. Patrick’s Day
Projection for economic windfall from political conventions are notoriously a fraud
Wwww wait!?!?! I thought that Pritzker promised to pay all costs for this convention if it was in Chicago as his Presidential Nomination coronation. Pony up fatboy. Don’t force the costs of your private party onto the good citizens of Chicago and Cook County. Spend your daddy’s money to let the nation see a parade of your failures.
Economic boost from events is always overhyped.
I can’t imagine much enthusiasm for a Biden convention so unless they replace him with M. Obama or Mayor Pete, will this convention really be a big draw?
Before making wildpredictions of potential benefits. How many will attend? I Don’t think there are hundreds of thousands democrats with huge security teams. Anyone entering the city is probably a mental defective, so all,loyal Democratcrats wii attend!.
I’m hoping for the riot of the century during the convention.
No cops needed so no overtime issues. Liberals and democrats have a problem with the police, after all they are all racists and stuff so why provide any additional police presence for the entitled elite democrats? A couple of extra traffic aides will suffice. Any problems arise and the dems can a social worker to help them out. Maybe obama can reach out to his community organizer crowd and they can mingle and handle crowd control etc. Win, win for the libs.