-- 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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No mention of schools. That’s why virtually everyone I know has left they city. We put up with the crime, the taxes, the rats, the crime (I think I mentioned that already), the traffic and congestion, because city living and being able to walk places, meet up with friends instantly, drink all night, take the train to work, is actually worth something. It’s vibrant, and fun, and exciting, and you meet interesting people from all over the world from all walks of life. (The liberals and progressives are awful, but fortunately most young people *used* to stay out of politics… Read more »