-- 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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Just being in that hood is a gamble….
The suckers lost all of their money. Have to go out and rob someone, but I will be back ASAP.
There is concern about “Chicago’s desperately underfunded police and firefighter pensions?” How interesting considering that Chicago seems to have plenty of money to hand out to the newly arrived immigrants.
Would expect Chicago casino to exit Medina Temple by end of 2024, head back home to New England. Money-loser, inexperienced small-time casino operator (name was purchased), another pathetic legacy of Lightfoot administration.
Downtown is a bad location for anything these days. I think most of city and southside the gambling crowd drives 25 minutes up I-294, then hangs out in Rosemont for several hours before heading over to Rivers. It’s a lot to ask people to spend twice as long to go downtown, pay $$$ for parking. Rivers and Rosemont have free parking. The new location at Halsted/Chicago would be even worse and more congested.