-- 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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Developing, soon tax payer money will be dispensed to the hotel builder by the state, county, and city under the guise of providing jobs to a project that will bring in revenue to government coffers. But, as usual, that tax payer money will be lost, gone forever when this project falls flat on its face. Politicians will rave about the project, pat each other on the back, hold press conferences and when it goes belly up will immediately blame President Trump. Any bets?
Wasted investment. Obama’s tower will not bring visitors.
From what I’ve seen of the Obama center build that hotel far enough away so when it collapses it won’t damage the new hotel