-- 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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This can’t be. How can prices of real estate keep going up in Chicago when we are told the city is too dangerous and no one wants to live there. Who’s buying all these properties when everyone is leaving in “droves”? Maybe all the renters decided to invest in Chicago and stop throwing money away on rent? No, that can’t be as rents in Chicago are also through the roof. It’s a conundrum alright. Oh man, this good news will no doubt upset the doom and gloom crowd. I remember one commenter in particular stating that Chicago real estate values… Read more »