-- 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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The question should be. Why does anyone still eat at McDonald’s? If you take away the salt-sugar-fat from their food all you have left are the wrappers/cups and an empty wallet.
Why anyone would move from Oak Brook to downtown Chicago is a mystery. Hindsight is 20/20, but trust me, the employees aren’t happy with that decision.
It became trendy for companies to move from the suburbs to Chicago. I have no idea why. The company I was with claimed they could attract better talent. With Covid and the surrender of the city to mayhem, definitely not a smart move.