-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
When the CME moved to the CBOT, that floor, back in 08′, was the golden opportunity for a Chicago casino. Chicago’s missed the boat on a casino, the region is saturated at this point. The Chicago Political class’s in-fighting over who gets to steal first, has cost them that opportunity.
Maybe they don’t like taking orders from SEIU as to how they are to actually run their own casino.
This ST-Fran Spielman podcast show interview with Hopkins is pretty good. He states the same thing about Bally’s casino being a flop. Interesting comments on downtown crime and retail/real-estate closings…but he still kinda keeps the knee pads on for CTU/Brandon.
https://chicago.suntimes.com/fran-spielman-show/2023/11/16/23964206/ballys-temporary-casino-medinah-temple-revenue-gambling-permanent-site-water-tower-place-hopkins