-- 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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“(The plan) involves bringing the city, nonprofits and the business community together to boost investment in neglected neighborhoods, create more jobs for people at risk of getting involved in violence and greatly expand violence-prevention efforts.” Boosting investment in neglected neighborhoods has been tried many times over the years with little success. In general, throwing more money at this problem hasn’t resulted in improvements. Creating more jobs doesn’t seem to be well thought-out, either, given that companies are currently begging to have people fill job openings. Greatly expanding violence-prevention efforts needs to start with an effective law enforcement program that includes… Read more »
The Civic Committee, always looking to dump a problem on some unsuspecting fool. Never consider addressing the problem with the people responsible they should ask Arbuckle to. Declare an all hands on deck territorial imperative to build more jails and keep them full. If you receive an invitation from the Civic Communitie.
, Incinerate it. Never acknowledge rec of the invite.