-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
The same ‘local leaders’ who destroyed downtown suddenly have the solution to fix the very problem they caused. NO THANK YOU
The WP Editorial Board whines that their Dem/blue/progressive downtowns are grimy, gritty-n-empty. Avoids mentioning that it’s Dem/blue/progressive employees, who could work in those downtowns if they wanted to, who have decided they’d rather stay home and work-n-spend money in the suburbs. And, of course, the editors don’t explain why it’s sensible to expect that people who’ve decided they don’t want to work in blue-city downtown areas because they’re gritty, unsafe, expensive and inconvenient are going to move to the same neighborhoods they don’t want to work in just as soon as taxpayers find a way to help developers make money… Read more »