-- 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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This article conveniently ignores the safety issues that started when open rioting was all over downtown and police were targeted with violence. The City did nothing! The big 5 of Pritzker, Preckwinkle, Foxx, Lightfoot and Evans declared war on law-abiding citizens. People watched in fear as violent takeover looting was common place, and the Mag Mile became the Mug Mile. Covid gave everyone a chance to avoid downtown, and guess what, nobody missed it! The Loop is never coming back, killed forever by the extreme leftists. Good riddance.
Chicago is about two steps from becoming the new Detroit and no amount of cheerleading and coercion can change that. Only with new, non- Marxist/ progressive/ socialist leadership does it stand a chance.