-- 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 doesn’t bode well for the RTA in its quest to fund its empty trains and buses.
Thanks Lori!
Yay! More possibilities for Section Eight housing, further destroying what was one a world class city. Commissar Fat Az and Six Percent won’t be satisfied until the Loop looks like a third world slum.
Nuevo Caracas!
Good.
The people are policy.
Meanwhile Meta is planning to invest $1B in Wisconsin for a data center. Was Illinois even considered?
https://finance.yahoo.com/news/meta-plans-nearly-1-billion-195737717.html
Why would it be?
Insane politics and taxes.
Exactly!
A recession is coming or so it looks like. Things to get worse much worse.
Not to worry, Chicago can always raise taxes on the poor uneducated immigrants that are on welfare. The rich job creators are leaving the state at an increasing number, they see there is little hope in their lifetime for this to change.