-- 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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A wise man once told me that residents voluntarily choose to live in high crime neighborhoods. Violent areas are very expensive to live in: limited transportation, food deserts, expensive rents due to Section 8 and high defaults, and so on. People choose to live there for family, friends and lifestyle. Keep that in mind and remember that Englewood’s population over the last two or three generations has plummeted to about 25% of it was at it’s 1970’s peak as residents voluntarily choose to leave the neighborhood. There’s only 26,000 people in englewood now The only people left are 26,000 people… Read more »