-- 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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Public transit sucks. It can be faster to ride a bike than take bus in the summer time or rush hour. The train goes in a nearly straight line to or from the loop. To get across the city (and not like I’d ever want to do that) you have to go through downtown, transfer, and then get on another train. There’s no criss-crossing of train stations outside the loop or the red/brown line at Belmont. What good does any of this do people? Little apparently given how few use the CTA trains these days.
Conehead the Mayorbarian’s congestion tax has been largely rendered completely unnecessary by eliminating the Loop as a desirable destination for employment and residency.
THESE PEOPLE ARE INSANE!!
Message to Mayor Playa: Fire your pal Carter that pulls down 375 K a year to mismanage public transit.