-- 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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This is a sobering story that highlights the critical importance of maintaining and updating sewer infrastructure, especially in communities facing economic challenges like East St. Louis. The environmental and public health risks associated with untreated sewage entering the Mississippi River are immense, affecting not only local residents but also downstream communities and ecosystems. The financial strain on the city is understandable, but it raises an important question about state and federal support for infrastructure upgrades in economically distressed areas. Are there existing programs or funds that East St. Louis could have leveraged earlier to address these issues? Also, I’m curious… Read more »
Once upon a time there was a suburb of Detroit called “East Detroit.” Over time Detroit acquired a bad rap so much that East Detroit was embarrassed to be called “East Detroit.” They renamed the city “East Pointe” to leverage the names of Grosse Pointe, Grosse Pointe Shores, Grosse Pointe Farms, etc.
To this day nobody from the Detroit area confuses East Pointe with the tony old money Grosse Pointe cities. I don’t think a name change will help East St. Louis either.
“Bombed-out buildings” is a phrase an old guy I worked with in the 80s and 90s used to describe the view as we drove through East St. Louis.
Too poor to afford the electricity for stop lights and have to have the ISP patrol the streets because they cant afford adequate law enforcement. That’s East St. Louis. And yes, they did award city hall to the family of a man beaten until permanently disabled by other thugs while in custody.
This headline gets my joke of the day, week and year awards for sure. Sue East St. Louis? Does the City have anything to take? Last lawsuit I heard of the City Hall was awarded to a private citizen because the City had no other assets to take. Perhaps this is the preliminary to awarding large monetary grants. However there seems to have been considerable grants and assistance showered upon the place in the past that seemingly just disappear. Based upon history this will just be a big financial boondoggle with little accomplished beyond paper shuffling. Why even try?