-- 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
Hey! Guess who had been arrested and sentenced to jail in 2019 but was somehow released early?
It’s just the 70’s and 80’s and 90’s all over again, with just the craziest of crimes happening in Chicago. Just in the past few years we’ve had multiple killed at a house party, a guy kill a bunch of homeless people on the el, and now a teenage serial murder randomly killing residents. People here probably don’t remember the second major Chicago crime (the first occurring during the 20’s) – it was really bad: the Ripper Crew was kidnapping people off the street, Gacy was stalking boytown, Girl X, and countless other heinous crimes, so numerous we don’t even… Read more »