-- 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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Wow, could COVID lockdowns and rampant crime that scares away tourists have anything to do with this?
The data shows that tourists have avoided these covid lockdown cities like the plague. But Free Cities in Red States especially in FL, have been busier than ever, along with resort and vacation towns and national parks experiencing record years. Many of these tourists that would have otherwise visited Chicago, or IL, who are now going to FL or TN instead… https://www.msn.com/en-us/travel/tripideas/great-smoky-mountains-national-park-sets-visitor-record-in-2021/ar-AAT0F84 The great Smoky Mountains National Park had its busiest year on record in 2021.Officials said the park had 14,137,812 visits during 2021. This surpassed the 2019 record by 1.5 million and 2020 visitation by more than 2 million.… Read more »
These tourists aren’t returning to Chicago, not this decade. Kinda sad, but I don’t blame them. Chicago is virtually unrecognizable when I go there a couple of time a month for work related stuff. The rampant virtue signaling of masks and LGBTQ+++ propaganda on every billboard, ever bus stop, every bench, the depressing downtown with vagrants and bums, the closed restaurants, the degenerate irrational covidians, I just look around and everyone there now and I get a bad vibe that says : YOU – YEAH YOU, conservative white male, you don’t belong here anymore, you’re not welcome here anymore, go… Read more »
On the plus side though, when you do walk around Chicago the people with the clipboard looking for you to support their cause say to themselves “conservative white male, I’m not asking him”. They never stop me.
Very true! But on the flipside every bum is harassing me for a dollar…
Fixed The Headline For You
“Chicagoans Hotel Tax Revenues Fall $29 Million As Tourists/Visitors Avoid Chicago”
You’re Welcome!!
Notice that whatever deals that are made in City Hall (and in Springfield) taxpayers are always on the hook for shortfalls. Always! These deals are made without any taxpayer input or public discussion and scrutiny. Voting these clowns out is almost impossible due to many running unopposed and gerrymandered political boundaries. Even if they die while in office or step down the “Party” selects a replacement. Once they get a taste of power it’s hard to cleanse their palates.
The $31.5M that Lightfoot is squandering on her “guaranteed income” lottery should be used to cover this debt.