-- 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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Schools, cost of living, drugs and violence, and jobs. “Many black Chicagoans have taken only small steps away from the city, resettling in nearby suburbs in Illinois or Indiana that offer more highly rated schools and a lower cost of living.” “The couple moved in with Dora, their oldest daughter, who traded Chicago for Hillside for a very different reason: She was fed up with drug sales and violence in the family’s neighborhood on the West Side.” “And in the next generation, Ke’Oisha, the Whites’ oldest grandchild, left Chicago for job opportunities elsewhere, following a path out of the city… Read more »
This is not journalism, it’s a tug-at-the-heartstrings essay, that contains many factual inaccuracies. Chicago is losing population overall, as it has nearly every decade, except for one, for over 100 years. Africanx-Americans are leaving at ‘disproportional’ rates compared to other races and the only ‘growth’ race is hispanicx, and there are not enough hispanicx to offset the losses of whitex and blackx and asianx. The booming lakeshore and north side areas with whitex people merely offset the decades of losses of whitex people from other areas in the city including the northwest, southwest and west sides, as they’ve all fled… Read more »