-- 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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I don’t oppose increasing the fees for neighborhood festivals and other events (nascar comes to mind) but there are others who need to pay “their fair share”. Have the pro-gaza groups been paying permit fees for their parades/marches? Do they reimburse the city for the cost of the police who protect them, who stand around at intersections blocking traffic?
Half of these groups protesting don’t even have permits. When denied one, they simply get on their cell phones and it’s off to the races.