-- 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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Reparayshuns
How many f-ed up bills is LaShawn Ford proposing? I wonder how he picked the magical 1/4 of a mile condition.
Probably has his sights set on a couple of properties near his home. That’s how Illinois rolls!
Oh look at this “abandoned” home on the Chain of Lakes…
Dibs on one specific house on Astor Street in Chicago. You know the one without toilets. It is after all uninhabitable.