-- Connecting the dots between our economy, government and business --
The Windy City’s most powerful ward boss is in trouble for the first time thanks to his suddenly awkward business deal with the president—and the rise of a new brand of ethnic politics.
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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Way too premature to say this. Chuy accepted a machine appointment to Washington DC. This is the traditional route for people that are adversaries or potential adversaries of the Machine. Chuy was bought. The question is, what’s the next buy for the guy he replaced? Maybe land developer in Puerto Rico?