-- 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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Then find one close buy and shop there. Like Preckwinkles pop tax. 2 miles across a border and I actually paid alot less
Imagine your time having so little value that someone would drive 2 miles out of their way and 2 miles back to save $3 on $300 worth of groceries. The average operating cost per mile for an average car in 2024 was $0.82 per mile. So that 4 miles of additional driving would cost you $3.28 so you would lose money. Even if your grocery bill was $500, you would only save $1.72. Assuming that drive there and back only added 15 minutes to your trip, that would mean your time would only be worth $6.88 an hour. For most… Read more »