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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 2.2-mile racetrack will go through downtown and could draw an additional 100,000 people over the first weekend of July.” Could, but probably won’t. “Ald. Derrick Curtis complained about high ticket prices — $269 for general admission — which he says are deterring residents of his Southwest Side ward.” Oh I’m SURE there’s high demand in the 18th Ward to go watch a NASCAR race Alderman Curtis. That said, $269 for General Admission!?!?!? The Indianapolis 500 only charges $35-50 depending on where you sit for General Admission in the infield AND you can bring your own food and drinks. “Downtown… Read more »
Mayor Beetlejuice signed this NASCAR deal and that midget can’t see over the steering wheel!!
A little late for questions now, fellas. Let’s hope this goes well for Chicago without a lot of crime and protesting. But the measly $500k the city got from NASCAR for allowing this event is a laughing stock in the industry. Maybe some new folks in City Hall can try to juice that number up a little bit for future dates if the event goes well. If there are problems, forget about it.
Maybe see if this contract can be canceled for its remaining 2 years