-- 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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That is toxic contaminated soil from over 100 years of steel mill activity. Think heavy metals.
Anyone who lived in South Chicago back then knew that there were soot particles everywhere.
I guarantee you none of the no-nothings in that photo have any idea of what that neighborhood was like when the smokestacks were belching out pollution.
There are some first-ballot, Hall of Fame public sector heroes in that photo.
I had to think of the right caption for the picture, and then I had it:
Pirates Burying Their Loot
This will have an economic boom for South Chicago just like Kennedy-King and Whole Foods did for Englewood.
/sarcasm
An investment deftly picked from the pockets of IL taxpayers. Any bets America’s Worst Governor didn’t have an ounce of dirt in his shovel? He looks like he’s ready to stroke out in the picture as it is.
And where in the world would this bankrupt state find another 500 million?
With JB involved probably going to be named “East China”