-- 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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If riders could “seamlessly transition from a Metra Train to an L”, why do we need the Red Line extension? There’s some big savings!
Nick Blumberg and Amanda Vinicky, typists for the DNC and Wilmette Talking To Winnetka, serve up another incomplete publicity piece consolidating talking points from a groups admittedly most likely to suffer as a result of the Executive Director-caused financial shortfall. The tired calls for yet more money for a transit system that has fine equipment (for now), convenient schedules, low fares, and few customers. Nick and Amanda left out the long-term decline in ridership, made worse by JB the Hutt’s Covid Hysteria. No amount of ‘funding’ will bring those riders back, as the jobs they once went downtown for and… Read more »