-- 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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Until they get CTA crime under control, this is going to be a world class bust. Everyone who rides the Red Line– and everyone who lives near or owns a business near the Line– knows it is the conveyor belt for criminals from the South Side to get into the wealthier downtown neighborhoods, do their dirty work, and skidaddle back to home turf.
The exodus from the Loop must also stop and reverse its trend. Absent that, there’s no need for more transit. This one is particularly asinine, though.
You cannot justify the per-ride cost of this thing.
Craig Wall embarrasses himself and journalism in general with this regurgitation of talking points masquerading as news. I expect more from experienced men like Craig. I expect leadership and common sense. However, the realities of the news business result in worthless reporting like this. Chicago newsrooms are populated by people focused less on journalism and more on pushing the narratives of elite political animals and maintaining their access to these political animals by carrying their water. Honest reporting would benefit Illinois’ taxpayers, but would jeopardize Mr. Wall’s job. Note to Mr. Wall: The entire area where this expensive mess is… Read more »
The feds drank the Kool-Aid big time.
So did the people of Illinois