-- 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
These article reflect the coming end of the Big 10 universities to Chicago pipeline, and signal the coming of the single HR childless cat-lady moving from smaller markets to Chicago’s bigger market. This what happens when a vengeful Democrat Party intentionally excludes, mocks and degenerates half the country’s population of conservatives. SAD!
Those universities themselves ended a long time ago. DEI, affirmative action, and the Civil Rights Act have destroyed our ability to produce educated adults.
You could also add the demise of affordable Catholic schools. A good grounding in the basics was necessary for college level critical thinking skills.
Debtsor – my observation is that the business climate in Illinois – combined with crime downtown – are so bad top notch employers are avoiding Chicago. I talked to a placement director at ND’s law school a few years back. At that level, they serve students well and he talked about the seismic shift away from Chicago and the need to further develop networks away from Chiicago. I hired a ND grad (just out of law school) for the DC market – he was excellent and I had competition in hiring him in DC. Anecdotal – but still illustrative.
Also, my lawyer friend tells me the law school bubble burst during the Great Recession. He said something like 3,000 new lawyers were admitted per year in November during the 90’s and 00’s; which dropped to 2,000 new lawyers during the ’10’s and apparently now, after a quick duck duck go search, it’s down to 1,100 lawyers per year, and the number of active attorneys in Illinois isn’t growing, but declining, as those ambulance chasers licensed in the 70’s and 80’s are now septuagenarians and fertile-octogenarians themselves, and are the zombies attorneys still walking around the courthouses or doing Zoom… Read more »
My brother-in-law is one of those septuagenarian attorneys who’s worked forever as an attorney and said he’ll never retire. He’s enjoying his golden years!