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.
For years I would do 10-15 business dinners downtown each year costing hundreds of dollars and sometimes thousands each and put up with paying exorbitant parking, food and liquor taxes. Not any more. Haven’t had a big expensive business or personal dinner down there in two years. I feel sorry for the restaurant owners and workers, but my colleagues and I just gave up on being taken advantage of. And if you ask anyone in the suburbs lately, almost 100 percent of them will say they don’t go down at all for exactly the same reasons. Truly tragic what the… Read more »
Legal extortion.
Someone has to pay for Million dollar pensions at age 45.
Suckers who live in Illinois will pay, pay, pay.
Not going to stop anytime soon, only going to get worse.
Droning again! See my earlier response of a minute ago.
I remember when this first happened. My wife and I were parking downtown, for a doctor’s visit. I said to her, “Remember yesterday when Lori said that they wouldn’t ticket cars, unless it was for a “safety reason?” She nodded, and I said, “I won’t DARE not pay this meter. If I know this city, they will still ticket everybody anyway. You know why? Because this is exactly how they treat businesses here — they say one thing and then play “GOTCHA” to get their money.” So we paid the meter. We came out about an hour later, and walked… Read more »