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.
It’s a sad sight and I’ve watched the real time decline. We also have the you-know-what acronym on a good percentage of the boards. Hint: last word is Marxist, no matter what they actually call it. Who is going to want to go the restaurants, etc., which will not resemble the former experience? Recovery will be difficult, and from now on competing with the socialist structural push which hangs in the air.
“A campaign to welcome everyone back begins this week. The Loop’s 80% dip in traffic is turning a corner.”
Downtown Chicago is a disaster. I’ve been down there a few times since the riots and there’s nothing going on. The boarding up is not the problem, it’s that no one wants to come back to Chicago. I’d be shocked if Chicago ever returns to 80% in my lifetime. I’m moving my small business interests out of Chicago and many others I know are too.