-- 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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Two riders instead of one. 100% increase. Both were inebriated.
I recently rode the CTA for the first time in a long time. The riders are noticeably poorer. I saw no professionals taking the train to the loop for work, as I had seen in the past.
Even Huge Events Have Not Restored CTA To Anywhere Near Pre-COVID Ridership Levels