-- 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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Conventions will never be the same inChicago. Start planning now
I’d be surprised if conventions ever again reach their former numbers. People who run them have found there are other places as good or better than Chicago where you need not pay a Union electrician to plug in a lamp and you need not worry about your goods on display being stolen overnight. Better places offer walkable downtowns where conventioneers are safe from thug attacking in gangs.