-- 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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Can’t believe anything coming from an alderman’s mouth
Temporary casino that becomes semipermanent! This whole thing smells like a shell game. Reilly and Hopkins should dig their heels in! They’ll probably sell the printing presses to Ukraine; just because. Then demolish the freedom center by bulldozing it into the North Branch. The EPA will issue a TRO suspending any further work. The Medinah location becomes permanent! When financial targets can’t be achieved the casino is permitted to expand into the surrounding streets! “games of chance on the midway” Free valet parking!