-- 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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Seems like a good time, living in Chicago. Last week, I was talking to some neighbors of mine, used to live in Chicago for many years but live in suburbs now. Recently took family to Chicago on a day trip. They described their day trip in terms of genuine shock of how far it had degraded and it wasn’t the Chicago they remember pre-covid. Their freshman aged son, for whom this was a first trip to Chicago in a long time, commented that going into ‘the big city’ meant the smell of weed everywhere, homeless people and migrants and thugs… Read more »
Glad they made it home safely ! Personally, I haven’t been to Chicago since jury duty five years ago. Don’t see a trip in my future either. Sad.
SHAME……USED TO BE A GREAT CITY UNTIL THE PROGRESSIVES TOOK OVER!! THINK THAT’S WHAT THEY ARE…..(SOCIALISTS??)
So , funny you mention the smell of weed everywhere. My family went to a Blackhawks game a couple of weeks ago. We drove into the City from the suburbs and parked at the United Center. On the way, the smell of weed was crazy on the kennedy (in traffic), on and off on Ogden and on and off all the way to Adams and then to the United Center. On the drive back we dropped off a couple people at their apt at Wells and North Ave., pungent weed smell everywhere…then again on the Kennedy back out to about… Read more »
Happy St. Patrick’s day from Kimmy Foxx!