-- 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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Get the feds to preform a forensic audit
of the funds and grants at O’Hare airport
they will probably put 200 or 300 people
into fed prison with all the theft and fraud
going on. They can keep Mikey company
A lot of money for a drug marketplace on wheels. Urine smelling cars and criminals for $1 Billion per mile. Sounds like something government would do.
Awful job by WSJ on this piece. “Economic lifeline”? Nonsense, and the whole project is a fiasco. The total cost of the project is now $5.5. billion — a billion per mile — for just four new stations. Transportation experts have calculated the cost per ride will be $1.8 million! “Let’s see any transit project on the planet top that,” wrote Ed Zotti, one of those experts. The area is already served by five different rail lines and many bus routes. dog of a project should have been fully killed long ago. https://wirepoints.org/chicagos-red-line-extension-cost-now-projected-to-exceed-1-billion-per-mile-biden-trying-to-lock-it-in-wirepoints/
Yeah, it’s a typical Illinois Machne boondoggle. The route they picked doesn’t make sense.
Correct! This is the lowest density area of all of Chicago, so it’s well served with transportation as is.
You cannot even see a house from the Calumet Expressway once you pass 103rd Street driving south.
Gavin Newsom has his billion dollar train to nowhere. This is Chicago’s version.
What is it with Democrats and inefficient and expensive trains!