-- 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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I watched this you-tube vid “Is tourism hurting Venice?”. I couldn’t believe it. Venice is built on wood piles and even those marble cathedrals are sitting on a lot of telephone poles. The city is in a mess much like L.A. or Chicago. Some ideas have been discussed about how to save the city with modern levees but the city is broke and can’t afford something like that. When cities run out of money it’s a super-bad situation.
Great opinion piece. Will someone on his staff print this article out and put it on his desk? Will our Gov actually read it? Naahh…
He reads us and other dissenters. It would be easier if it were just a matter of alerting him. Instead, he takes comfort in his view of the numbers of people on his side. He got that right in 2018. I doubt, however, he understands how fragile that base was.
Yeah, I doubt JB understands much beyond what he’s told. Ever since I saw his first ad (2 years ago), I’ve gotten a strong puppet vibe from Jabba. I suspect his strings are being pulled from NYC by a certain Hungarian expat.
JB has the support of union workers, assorted Illinois patronage employees, welfare recipients and most of all, those too lazy to go out and vote against him.
I’m glad JB won. Now they can’t blame Rauner for what’s coming…although I expect some will try anyway.