-- 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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Without these types of circuses, what could your Illinois masters substitute as a good opiate for you people. You already have drugs, alcohol and gambling. What about prostitution? Legal Fentanyl or heroin? At this point, I think history will have a hard time actually pinpointing when the actual toilet flush occurred. There are so many instances that could have been the impetus for flushing Illinois down the toilet.
Illinois has perfected digging the hole and 1st in the nation for debt.
Illinois will only be the first in the nation going to the feds to figure out how a state can go bankrupt.
As SI isn’t exactly a bastion of financial/ political media , we can’t expect them to understand that in IL no matter how many financial holes are dug and how large they are, the taxpaying serfs will make up the shortfall even if it takes several generations to do so.
Wouldn’t it be funny to see both the bears and Sox leave during Putzger and Pinheads rule. Think of the optics
The _____ Bears fill in the city of your choice
will leave Illinois for these and many other reasons. The state is or should be in receivership
the future is downhill.
I told my wife the same thing today. Even if the Bears did pay off Soldier Field (a demand that many say appears very close to extortion) how can the Bears ever trust the governor or state legislature? The city controls the legislature through the gerrymandering by the D’s, and the fools running the city think they have all the cards. Very recent events show that the governor and legislature continue to screw the taxpayers yet again with the sales tax increase, toll increase and the $8 billion utility bill increase (batteries). Why would they not screw the Bears? The… Read more »
Northwest Indiana is pretty accessible and plenty of land too. And a republican supermajority.
I read they just established a sports authority. Apparently they want the Bears and White Sox. Will fans travel to that polluted swamp?