-- 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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Property taxes don[t doom the Bears deal in Arlington Heights. They are a factor, but a small one. The real problem is there is no one with a deep pocket to pay for the billions of infrastructure needed. Bears in AH never made any sense from the start.
They’ll get their money from somebody, but it won’t be the Bears. The Bears should offload the property to Amazon or some other corporate giant who will drive a harder bargain and get tax credits to build a big box of cement on the site. Maybe that’s what Arlington Heights really wants anyway. Consistent traffic and employment opportunities instead of insanity a few days out of the year.
I love how the greedy school districts, that pay their staff some of the highest salaries in the state, are going to drive the bears into some collar county.
This state is so corrupt and awful.
KEEP VOTING BLUE ARLINGTON HEIGHTS
Down town Arl. Hts was ONLY Biden+40 last election
The Bears would be dumb staying anywhere in Cook County.