-- 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
First liberals give you trains and busses; then they want to run them (mostly empty) for 18 hours a day so that inner city residents including the homeless can get to and from their jobs in the suburbs OR from the homeless encampments to the public library for the purpose of viewing taxpayer-paid pornography. Then nobody who can afford other forms of transportation wants to ride the buses anymore. This seems .he way of the world and I can’t begrudge citizens of reduced means to get from one place to another — especially for employment and understandably for a warm… Read more »
Let me see,I had a client in downtown St. Louis back in 2006…there are these things called airplanes…I flew back and forth each week for 4 months(Nov-Feb, and drove maybe on 3 occasions…no problem even in the winter. My guess this is more about moving drugs ad gang meetings between Chicago and St Louis,both major drug hubs for the midwest. Ask the cops on B&N between aurora and chicago..more meetings take place on those trains,more luggage gets exchanged than you could imagine. It should be obvious to anyone who thinks that the Government is complicit in the drug and gang… Read more »
Trains are obsolete. In the 1920’s through 1940’s lines regularly ran over 100 miles an hour. Now they average 40, and they have no more luxury Pullman cars with sleepers and booze and plated meals like back then. Why anyone would want to take a train to st Louis instead of a plane or driving is beyond me.
you can fly pretty cheap on Southwest