-- 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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A ugly, hideous scar on this neighborhood and Chicago. Why not simply put up a 50 ft tall red ‘ME’ in Grant Park near the ‘jelly bean’ with a very large pic of Obama beneath?
Why isn’t it being built in Hawaii… you know, where he was born?
There are so many unanswered questions about this disaster: the impact on the environment, the impact on poor minorities, the impact on housing, etc. Why is the Tribune rushing things?
Time for it to leave the state like Obama.