-- 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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Danville is a rusting hulk of a crime ridden city. It might have the highest crime rate in the state so it would be a great place for gamblers to visit with cash in their pockets. Great idea.
Years ago when Des Plaines was granted a casino license I believe the city was assured that the license was the final one to be awarded and to win the license, the city was required to share a substantial share of profits with a number of other cities. This occured while Marty Moylan was mayor.
I wonder how the issuing of more casino licenses will impact the city’s agreement with the gaming commission. Or IF it will.
Moylan is such a loser.