-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Agree with all the comments below but would like to add that the ONLY reason they are doing, this is because they realize summer is over and the outdoor seating disappears for most business. If they don’t ease the restrictions, the businesses closing without easing this restriction, would add to the catastrophic downhill slide of the current economic situation of the city.
So not science?
This will not end good.
Death and destruction on the horizon.
Downtown Chicago is a goner.
Zoom is not the future but it is the present.
Telecommuting is here to stay.
Look out Illinois, they do not have to stay in the state to work.
No one is going back to the old days.
That will help but the downtown business district is still a ghost town during the day. Most companies are not coming back until next year. That will be a significant amount of lost revenue.
And ever-increasing inertia to NOT make the grand move back ever. Too much “new normal” will have been established, and a notable number of commuter employees will claim safety risk.
After all this time no wealthy or business related entity could force a legal decree to open things up after the lapsed 30 day to 7 month Pritzker dictatorial move? Talk about a lost country … you can’t even get the wealthy or powerful to help their businesses or employees, they care that little. Pathetic.
the subjects of Illinois are slaves to the system.