-- 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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The numbers don’t lie. JB and the liberal media can spin it all they want, but if there were opportunity to make a profit, developers would be building. Right now people are fleeing the crime ridden city for the safety of the suburbs. The people selling in the suburbs are leaving the state. There are thousands of vacancies in the city, and thousands of empty homes. Lori has a big problem.
We still have half occupied corn field subdivisions in the exurbs from the previous recession.