-- 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
Downtown is dead town for now. Go and see how many lunch spots have closed for lack of business.
Dream on, Sun Times. This is like saying White Sox attendance doubled when 10,000 people show up for a game.
Being Marxists, the Sun Times does not understand incentives. Currently the incentives for most companies and office workers is to NOT go downtown. Forcibly making employees go downtown 5 days a week is a disincentive. But it is an incentive to get a new job at another company.