-- 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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Hopefully DOGE eliminates HUD at the federal level. Then all these parasitical vassal state departments like CHA will blow away like dust in the wind. Imagine all our empty land now encumbered by byzantine federal regulations on who can live there, their incomes, their skin color, currently generating no or negative tax revenues being liberated, to be sold for the highest price for the highest and best use in order to generate maximum taxes revenues for this bankrupt city and state. Illinois and Chicago are merely colonies of the communist government dysfunction operating out of DC. Liberate it and watch… Read more »
Hmm.. seems like some folks run when the spotlight hits them.