-- 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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Leave Chicago now! Schools crime taxes! enough
Like just about everything in Chicago ;proceed at your peril! No lifeguards, no police! How about color coded risk levels. Like swimming condition warnings. Except crime warnings. The Welcome signs at Ord and Mdw could display reported gunfire detected by shot spotter and the much vaunted Strategic Support Center. Show the live numbers so everyone can understand the magnitude of the mess the city has become. Also make plans for the stampede of workers pouring back to the loop.