-- 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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Dear Woodlawn residents: Gentrification isn’t coming. It burned down in 1968 and its been a zombie ever since. The city of chicago owns nearly a quarter of the land because no one wants to live there. The most recent riots were like a stake through the heart. The Obama center won’t save anybody or anything. It may even lower rents further, because I don’t want to have anything to do with Obama.