-- 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
Lawndale and Garfield Park have big rats. Don’t eat from those gardens. Ewwww. ☹️
“People wonder why the West Side is in such a mess, but it’s because people don’t get support from the city government,” Perryman said.” I hate to be the grinch, Mr. Perryman, but join the club. What you see is a fraction of what small businesses go through. With that said, I’m not so sure that this policy is bad. I’m not real excited about having people tap into the water system without regulation and then using the water for their own benefit. You’re not even paying for the water or the cost to maintain the system, regardless of how… Read more »
We just had 8″ of rain in 72 hours.