-- 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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This publisher really pisses me off. You’re supposed to get three free articles but you don’t even get one. Instead they lock your phone up and force a subscription.
Hmm. Thanks for letting us know. We had not seen that.
Its happening around the Obama Center and it will happen here too!
Has anyone seen a specific description of what is proposed to be built, who will own it, who will pay for it, what government assistance will be provided, how many folks are expected to be employed there and at what skill levels, who hold the bag if it fails, etc etc?
it would seem a no-brainier that Lake & Porter Co Indiana would be the huge real-estate winners from South Works Quantum project? Is Illinois going to try and somehow mandate State residency requirements?….gosta keep those Q-bits in Illinois so Stacy & crew can tax$$$?