-- 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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The way to impede corruption is to limit corrupt government unlimited war-chest. Have legal requirements for public posting of RFP bidding been followed for contracts of public money awards over $25,000? Litigation to force Statutorily mandated procedures to be followed is the only remedy possible. At some price-per-illegal-migrant, every home in Chicago would be delighted to host. Other novel solutions exist, at some price. When Chicago/McCormick Place spent over a billion to set up a Covid center in 2020, who knows if that money was spent within the law or within reasonable cost-effective standards? May we not find a single… Read more »
It’s almost an admission that it’s over for Michigan Ave.
Also for downtown Chicago as a whole