-- Connecting the dots between our economy, government and business --
For the second weekend in a row, Chicago police are investigating a shooting in the River North nightlife district. Today’s victim is the tenth person shot on the Near North Side this year.
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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Why would River North be different than any other part of the city, I wear a bullet proof jacket or vest and carry when I’m in Chicago, the only place I also bring a spare magazine.