-- 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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Words cannot describe how asinine this is. The whole idea of moving up the economic ladder is to move into a community that begets success. You do become your environment. Al this will do is increase the number of gated communities with private security patrols. Oh course it could not happen to a better city, for years the pretend do-gooders in Naperville purchased properties in Aurora, Elgin, and Joliet to house refugees they assisted in coming over, half way houses, homes for pregnant teens, the homeless and other societal debris vs having them in their community. So once every couple… Read more »