-- 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
I’m sorry but I agree. There are more slot machines than taco takeout restaurants in the city and suburbs. Who wants to go downtown and lose not only their money but possibly their lives when you can do it out there. Downtown is Dead
You can bet Christiansen Capitol Advisors, LLC won’t be getting any more business from the city until they rewrite the report with the preferred results.
Tasked with finding more revenue. That is retarded ( as in Impede progress) thinking. How about cut, cut and cut the spending.