-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Hotel rooms in Chicago are EXPENSIVE. Crazy expensive.
Business groups aren’t coming to downtown Chicago because of the crime issue and poor business climate. They see Griffin, Caterpillar, and Boeing bailing out of Chicago. Tourism will decline with the end of the summer. Residents outside of Chicago aren’t coming downtown either. Decades of failed economic policies are finally hitting the fan.
Distressed? Do you really mean ready to collapse from the deadweight of Democratic Leadership? May throw in a dose of DIE! The only thing I look at in the trip are the obits, future voters roll! Does anyone remember when the Defender bought the Trib?
Loop is headed for the mother of all real estate collapses — office workers are not coming back — business travel has been rendered obsolete by Zoom — and leisure travel will be killed off by Dementia Joe having crashed the economy. On top of all that, downtown is an unflushed crime toilet (with a 30 Percent retail vacancy rate and climbing) and at night/on the weekends you would think you were in Englewood.
LOL, downtown at night or weekends isn’t Englewood, but instead, Grand Theft Auto the video game…