-- 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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91 vehicles. How do cars continually end up in the river and no one notices? While touting its cleanliness and encouraging kayaking, I would have thought the city at least periodically looked for sunken automobiles and dead bodies. Pritzker doesn’t want to pay to fight back the Asian carp – but there is a good chance the carp wouldn’t make through the river alive anyway.
Barges on the shipping and Sanitation canal began to report scrapping bottom around Willow Springs in what should have been sufficient water level. The Corps of Engineers investigated and found the remains of many stolen vehicles and a few dead bodies. They solved a lot of crimes, closed a “chop shop” and solved the murder of Moraine Valley College trustee Diane Masters.