-- 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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If I were a criminals I would feel much safer under JB.
Hobbesville is a more apt description.
Unfortunately, most foreign born residents of Chicago have no idea that Pritzkerville is a take on a 90 year old slur against Hoovervilles, a slur against Pres Hoover during the early days of the Great Depression.
He’d be better off saying that parts of Chicago are a third world slum not too different than the slums the residents left.
It’s more likely that he was referencing Pottersville from It’s a Wonderful life. Without George Bailey, Bedford Falls becomes Pottersville. As in, if we don’t elect Bailey, we will be stuck with Pritzkerville. Voters and politicians prefer simple.
Whichever version you believe he was referencing, I think it will be missed by most Chicago voters.
You might be right. Which makes it arguably an even more obscure reference. Except it doesn’t make a lot of sense because JBPutin isn’t lending money to everyone in town at usury rates.