-- 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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Well, I guess that’s one way to generate tax revenue for Chicago. Next up: legalizing and taxing prostitution. Once again, whatever you do, don’t reduce bloated expenses. What a whacked-out way to run a city.
The only casino location that makes sense is one located in or near downtown Chicago. For casinos to make economic sense, money needs to come from travelers or out of town visitors. Addicting the local population to gambling is a losing proposition, and when it comes to locals, there is only so much money that they spend on entertainment. Waukegan (and I like Waukegan having my young athletic career starting there)? Rockford? A far south side Chicago location? Tourists won’t go to any of these places. They make little sense and whatever tax revenues are obtained will likely be outweighed… Read more »
Rivers on a Friday night is packed as degenerate gamblers fritter away their monthly social security and pension checks. The people sitting at the $50 tables don’t look like people who could afford a $50 steak much less a $50 hand of blackjack. Maybe there were some tourists there from the Rosemont strip, but to me, it looked like a very diverse crowd of lower-middle class locals. I think there is plenty of market to expand and addict untapped locals in virtually every city and suburban geographic area. Rivers is far and away the king of the casinos and their… Read more »
The casino will fail in Chicago because there will be demands that the permanent victim class runs and gets everything under the cause of ‘equity.’
The Rockford location is directly off of I90/39 and has thousands of vehicles traveling by it in both directions everyday. During the warmer months there is a steady string of vacationers using that interstate. Chicagoland casinos are a 1.5 hour drive away. Rockford location is in a nice area with multiple hotel and restaurants nearby. It would be a great addition to the casino scoreboard however politics over its approval have reared their ugly heads again. Saddest issue is that a new casino has been approved to be built off I90/39 in Beloit, Wi about a 10 minute drive from… Read more »
Let’s see how she screws this one up. You know she will.
oh hell no, we damn well better see churches allowed to be %100 full if casinos pop up in Chicago.