-- 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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All the smart ones fled Illinois.
How does Champaign Urbana not make this list? The U of I, while not quite up to Michigan standards, is a powerhouse, and its associated facilities, such as its world known computation and research center, brings with it a tremendous amount of high skill employment. This puzzles me. Is it too small to be measured against the other cities in the list? Are the local populations not connected to U of I that troubled?
Yes. U of i educates foreigners, not locals.