-- 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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Traffic due to long lines wanting to use the world’s largest outhouse.
Illinois taxpayers are spending $200 million for Toxic Narcissist Obama’s Gigantic Valentine To Himself
https://www.audacy.com/wbbm780/news/local/road-work-at-obama-project-gets-usd200m-boost-from-state-city
So glad I no longer have to drive anywhere in that s-hole city. I’ll play my golf safely in the suburbs.
Enjoy your golf, Joe. I think you can expect the green fees to rival those at Pebble Beach when the dust settles.