-- 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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You ain’t seen nothing yet. Detroit sold abandoned homes for a dollar in the hope of getting more property taxpayers on the rolls. That our future brought forward by “Progressive” governance.
Like-wig shops/nail extension shops/Pawn Daddy/catalytic convertor resale shops/check cashing stores/etc. All highly profitable cash only enterprises.
Good not cheap, cheap not good.
Lenders will start cracking down on leases that won’t cover the loans