-- 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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Everyone do the speed limit. Behave on the roads and watch the Pinhead squirm as his new money maker fails .
Fines for speeding and red light violations are only paid by tax paying residents. The amount due from people in certain neighborhoods will never be collected and amount to probably 50% or better of the issued violations.
People will start to hate living in Chicago and move out (they have been). Soon only the poor immigrants will be left, and they will be hiding from ICE. No one likes to get their pocket picked.
Pension costs are driving the city to do desperate things.