-- 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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His declaring this only shows that he is either delusional or a bald faced liar.
Looking at Ohare take offs and landings as some sort of measurement of business in Chicago is stupid. Ohare is used by numerous airlines as a hub allowing plane changes for passengers. Most people pass through Chicago hoping for no delays. The measurement of hotel rooms and increased revenue however, is one measurement that can indicate increased tourism. But this statement – (“The systems that people rely on — education, health care, housing, our transportation — they are woefully underfunded and everyone knows that,” he said.) is so out of touch with reality it is ridiculous. It is not an… Read more »
Nothing but Horse Schitt.
Summer tourism due to special events is not economic growth for Chicago or IL. These people come, spend money, then leave. Does not grow business. All these people flying into O’Hare are not coming to open businesses, many of these are connecting flights because of the major United and American hubs.Come talk to me in January and February about tourism increases and business growth.