-- 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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JP….is doing such a good job with BJ right on his heels!
As this city’s finances go, so go the finances of its residents apparently. WalletHub did a study of large American cities’ residents’ credit strength ranking them based upon the following characteristics: · Credit score, including average score for the fourth quarter of 2023 and the year-over-year score · People with accounts in distress, as of the fourth quarter and year-over-year change · Average number of accounts, as of the fourth quarter and year-over-year change · Change in bankruptcy filings, December 2023 vs. December 2022 · “Debt” search interest index · “Loan” search interest index The “worst” – Chicago. You can review the summary at… Read more »
Who’s the moron proving the down thumbs.
you said it a MORON
The same one that loves raising our taxes.
Maybe some 17 yo offered extra credit for a CPS course?
The number is not listed or reported because
Zippy probably gets the vapors when he sees
It. Poor,poor Zippy
I am perplexed why this number isn’t publicly available. Rating agencies should know the number with some certainty. Given the rise in interest rates, it wouldn’t be surprising to see interest costs at $2B. In a 16.6B budget, that is a significant carrying cost.
Because they want to keep us stupid so they can keep up the bs