-- 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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Chicago is second in traffic to ISTANBUL, Turkey (a city of 15 million people). Chicago has a little more than 2.5 million residents. The answer is not more tolls, which is the first place the Dems in the state will go to in order to “improve” the roads. One third of the $1B+ tollway collections each year goes to debt service payments, ridiculous given the amount of revenue and assets it holds, but the tollway has learned how to ride the debt train like every other agency. It has also made itself almost irreplaceable since the state would have to… Read more »
Was the REBUILDING of the Spaghetti Bowl , Jane Burn , interchange construction for the past 10 years taken into consideration??? PIGSTER will use this to ADD ANOTHER TAX !!! ie CONGESTION TAX .
Well, too much traffic, too much waiting in traffic, too much wasted time?…the clear answer is use CTA where you can fly! Tax payers just spent $1.5B on some sort of “improvements”, should be safe and nice now. Couple things though…wear a BP vest, make no eye contact, do not look prosperous or even presentable, dark glasses are a must, hoodie to fit in, bring a weapon to defend yourself and record everything. Good luck.
This bailout wasn’t for any improvements. This cash grab from southern Illinois taxpayers was to maintain the underutilized gravy train status quo at the RTA/NITA/CTA/Metra/Pace.
I find myself reading the underlying report and saying, “Yes…and?” Chicagoans need to get to work, and with Chicago’s long slide into business unfriendliness those jobs are not friendly to transit. Jobs are in the suburbs, such as Schaumburg and Hoffman Estates. This isn’t going to change, with the possible exception of more jobs moving out of Illinois into states run by political animals with at least some clue how businesses operate. The leftist political animals continue to bray about ‘affordability’. How do JB the Hutt’s tax hikes help make things affordable, except for the continued hiring and employment of… Read more »