-- 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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I have lost track of how many “new ideas” the Bears have had over the years– West Side of Chicago in the mid 1980’s; back and forth to Soldier Field three times; DuPage County at least once; Gary, Indiana; a Dome at McCormick Place in the early 90’s; the Michael Reese Hospital site; and I’m certain I have forgotten a few. Guess what– they are so inept they’ll be playing in Soldier Field ten years from now. Count on it.
Agreed. This is just media clickbait.
Chicago and the state are bankrupt, Bears your on you own.