-- 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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Storefronts in my supposedly middle class NW side hood have been empty for 30 years!!! And with city making it evermore impossible to run a small retail biz, parking meter deal, everyone shops at the big box stores, etc, etc those storefronts are never going to be filled…..What the city could do is reclassify those properties as residential and allow storefronts to be converted to apartments..but that would mean loss of commercial prop tax revenue.
No one in their right mind would open a business downtown until this mayor is GONE or LAW AND ORDER is restored!
Zippy strikes again!