-- 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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Abolish tif districts now
Chicago will never go for bankruptcy because if they do the city will have to disclose all assets available. There are a couple of billion dollars floating around in the stupid TIF zones that suck money away from the coffers. Schools dont get money from TIF zones, libraries, other city services, police, fire, streets, parks etc. All that cash goes to the piggy bank if the mayor and alderscum who then can reward family and friends.
Sophia King has received thousands of campaign contributions from Scott Goodman of Farpoint Development who is trying to get Many millions in TIF dollars from the Michael Reese site in her ward. All in the city have been notified. Not a word. She needs to be investigated. King and park District boss Michael Kelly also will not respond to requests to have the Columbus statue in grant park defaced by the BLM domestic terrorists cleaned of graffiti. Sickening