-- 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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Plenty of word salad and BS bingo in these promises. Why would anyone but a retail business in the hood? This is all hopes and prayers.
Ms. Boatright has a very weak resume for such a powerful position, symptomatic of Johnson administration: inexperienced people, inadequate knowledge-base, poor negotiating skills. She is unlikely to be effective administrator.
That said, Mr. Cox was a serious impediment to real estate development, difficult personality, very much into DEI graft.