-- 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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Chicago transit ridership:
At its peak: 659.0 million rides in 2012.
Where it is in 2024: 366.3 million rides.
A 44% drop.
Service cuts. Now.
Just because people order on line, that doesn’t give the state the right to tax to bailout the fiscally irresponsible RTA. Require that RTA reorganize to eliminate waste and become more efficient first.
affable insanity this is how to describe
what this Chicago tax frenzy is like.
Sharks circling an injured prey, hey
Chicago keep your greasy hands out of the suburbs pockets, we might start putting
mousetraps in there.