-- 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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When people with money start leaving, Chicago will be sharing a grave with Detroit
not voting has cons
Some free advice to Bucktown residents: vote Republican for the next 10 years and see if things improve.
I get your point, but realistically, Bucktown residents voting Republican won’t change anything unless large numbers of people throughout Chicago do the same. Bucktown voted Biden +80. Yes, Biden +80.
https://www.nytimes.com/interactive/2021/upshot/2020-election-map.html