-- 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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The Gary Airport is missing the one thing that funds airports: regular commercial air traffic. The massive facility is a ghost town most days, with a few hobbyist private aircraft the only revenue moves, birds being the non-revenue movements. You would think that at least some overflow freight air traffic would utilize this airport, situated next to the elevated Cline Avenue connection to I90 and I94, bypassing the rougher parts of Gary proper. Nope. We see Atlas Air landing cargo planes at O’Hare every day, along with vast amounts of passenger air traffic and other freight movements. The Gary Airport… Read more »
Hey Gary, you just got screwed by CHI. Get in the long line.
Good. It was another Daley scam.