-- 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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“Reimagine” is an old Disney think tank term used when you give up on a prior use and try to formulate a replacement use. I guess she has given up on restoring LaSalle Street as the business hub of the entire Midwest. Hopefully, her replacement won’t see it that way and will focus on commercial development and bringing back white collar jobs. It will be a tough task after the damage she has done, but not an impossibility, unless you load up the street with Section 8 housing, public health facilities and other unproductive activities.
That word, ‘reimagine’ again – usually portents really poor policies.
Let’s turn it into illegal alien housing and abortion mills. That would intersect with Democratic Party priorities…..