-- 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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How will they voluntarily get people to crowd into those elbow to elbow 45 minute express trains?
They can’t and won’t. No one in their right mind will go on the Metra again until this all goes away.
Hello suburban office market, park my car in the garage, quiet elevators, no open office floor plans, shorter commute.
Downtown office market is screwed.