-- 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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Interesting that the city chose to increase parking again. Likely wise to avoid any location that charges more than $5 to park your car. At one time downtown was the place to be, and they had you by the short hairs regarding parking. Now you need to be focused on your safety, it is very overpriced, and there are much better experiences in many suburbs. Parking is free there.
We live close enough to Chicago, but I very seldom frequent it and can’t remember the last time I paid for parking for the reasons you noted. Now they’re increasing parking fees again? That brilliant logic must come from the same leaders who want to increase taxes on millionaires.