-- 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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Don’t call it a comeback, they’ll be like this for years, out-spending its peers, puttin taxpayers in fear
Very likely the first time LL has made the Wirepoints comments.
Happytalk from politicians has no relationship to reality.
Pritzker and Chicago Democrats let the ‘wokeness’ Genie out of the bottle, putting public safety and the economy behind playing partisan politics. It will take a long time to recover, if ever. Democrats seem real good at destroying what took decades to build up. Enjoy the ‘wokeness’ Chicago.
Lori’s idea of economic development is to throw away more money on ridiculous projects in the south and west sides intended to buy votes to insure her reelection. Wasting money on contact tracers, safe passage workers, virtual summer workers, and now unnecessary construction projects. They do not want affordable, they want free. Lori is just waiting for senile joe and goofy Harris to win so she can get a bailout. She is buying off her voters to get re-elected.
You would have to be insane to put money in a down town business.They will burn it out when round 2 comes to chicago.
Property insurance rates have to at least double, if you can get it.