-- 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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Hmmmm….Perhaps convention participants are reluctant to enter McCormick place. COVID germs everywhere after treating thousands of deserving and neglected Chicago citizens. Whaaat! We spent how many millions converting for a total of 32 patients. That’s nearly as outrageous as that NY shitbag with a navy hospital ship in the Hudson.
Well written, informative article.
Underlying all of this is that convention goers just don’t want to go to Chicago anymore. There’s so many other, newer glittery and shiny places to go these days instead. Few want to visit a corrupt, broken and violent city.