-- 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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Lots of room for tents chock full of illegals and food trucks for the same.
I haven’t set foot in the downtown malls in nearly half a decade, and I haven’t been to the Mall on Clark street in probably 15 years. Apparently, many people think the same.
With a 33% vacancy rate for the Avenue, does that imply property taxes will need to increase 50% for the remaining tenants for the government to break-even? Look out below.
Correction: With a 33% vacancy rate for the Avenue, does that imply property taxes/lease costs will need to increase 50% for the remaining owners/tenants for the government to break-even? Look out below.
No, it means the poor slobs in the neighborhoods will get to pony up more. Kindof a SW suburb effect.