-- 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 real estate market remains strong in the Chicago area. Plenty of people still want to live here. Just imagine what could happen to the city and state if they were fiscally responsible and focused on improving the crime rate. It’s up to the voters if they want improvement so I’m not very confident.
Start by kicking out 550,000 illegals housed at taxpayers expense and also get the Section Eight crowd to pay more than $20 a month for housing working people pay much more for.