-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
For a moment the photo reminded me of the Walkers on “The Walking Dead”
I am writing this just after I stopped throwing up. Lord help Chicago. So we need more money for migrants, more affordable housing, a “Department of the Environment”, and more open discussions. Not one single word from any of these sixth grade level civics students about taxes, crime, education, a collapsing downtown, population loss. businesses exiting, public transportation about to implode. Nothing! We are just all going to get along and have a lot of inclusion and more equity and a bunch of nice meetings and not bother talking about a single major issue of the day. Wow has the… Read more »
“taxes, crime, education, a collapsing downtown, population loss. businesses exiting, public transportation” None of these things matter to cost constituents. Most don’t pay taxes, they are criminals themselves, they never go downtown (unless it is to commit crime), they live in neighborhoods devoid of business already and they don’t pay for public trans. These voters don’t live your world. Your world is a little sliver of Chicago stretching from Thorndale to Roosevelt, the lake to Western, maybe Pulaski up near Irving Park. It’s not much. The rest of Chicago is filled with poor people living in an alternate universe. They… Read more »