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"(Bob) Dunn’s company, Landmark Development, wants Springfield to approve $6.5 billion in state financing over 20 years for the construction and operation of the transit hub...However, Landmark still hasn’t been able to justify the need for the transit hub. In the post-pandemic world, the work-from-home segment of the labor force will be sizable. Mass transit ridership is sure to take a long-term hit..."
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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