-- 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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Casinos, pot shops, liquor stores, abortion clinics, and high taxes that’s all this state can offer it’s a pretty sad state
Any bets ( pun intended) that Ballys is now seeking a graceful exit from the ill advised entry into the jungle of doing business in CHI?
I visit horse racing tracks occasionally in OH, PA, KY and WV. They all have a casino. If I can’t figure out race track entrance, I need to walk through casino. Usually daytime, so mostly elderly women spending their SS checks. The few nighttime tracks, have a more diversified clientele. Leaning toward upper middle age, split evenly male/female. I just pass a quick pass through, but i don’t see the smiling, having a great time people. Mostly just glum people staring at the machine, pushing buttons.
Wait, you mean the commercials are misleading?
The only purpose of a casino is the municipality entices the ordinary person to spend the money from their savings or in their wallets so it can be taxed. Money sitting in the bank or even under the bed cannot be taxed. People are enticed by the long shot that you may win a jackpot. Advertisements never show all those who lose. There are a lot of advertisements for the Rockford casino going on now. All the people in the video are younger-very attractive(mostly women) laughing having a great time. Not what I witnessed when I decided to check it… Read more »
Freddy – you are correct. Casinos are sad places. Politicians want the tax revenue but ignore the negative externalities.