-- 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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Back in 1993 I apply for a license to open up a community center where once I got my money together I was going to open up a banquet hall. I had talk with all the men Jesse Evans at the time in the 21st Ward. Initially when I confronted him about opening a business in his Ward he was all for it. Several months later he told me if I made him a business partner he would give me my license. I told him I really do need another business partner where he decided he would not give me… Read more »