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Frank Bilecki, executive director of the Illinois Sports Facilities Authority, said the Bears are eyeing the same portion of the hotel tax the White Sox hope to use to fund a new stadium in the South Loop. “Both teams appear to understand that the continuation of the 2 percent hotel tax is unlikely to pay for two new stadiums and pay off the legacy [outstanding] stadium debt,” he said.
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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Let the taxpayers put their cards on the table. Stick it where the sun doesn’t shine, the nerve of these idiots. Who is going to cover the existing debt, let Zippy add it to his budget. The rest of Illinois does not need to pay for this sh.. These idiots own billion dollar businesses Let them tap the bank. Go ahead pay for the illegal migrants add the rest of the crap we are forced to pay for nothing left for existing residents. The exodus will turn into a tsunami of People leaving. Hell the residents of Illinois are nothing… Read more »
Does anyone go into the lodging business to fund another businessman’s professional sports teams?