-- 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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It looks like the agreement was for a fixed cost. And as we know Chicago and Illinois government performance is always exceptionally poor, to no one’s surprise, there are now massive projected cost overruns. The airlines should hold the city / State to the original cost. If the answer is no-can-do, tell Brandon he can start up a city-run airline, just like his intention of city-run grocery stores. Or get the unions to offer cost concessions to get the job.
Gary Chicago International airport is available and easier to get to & fly out of vs O’hare.
we can find 60 billion to send to Ukraine every few months, or 20 billion for illegals every few months, or waste 100 billion on Israel to go on a killing spree… proves your government doesn’t represent you.