-- 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
Read Murder in Canaryville by Jeff Coen. (Bridgeport and Canaryville adjacent neighborhoods) Justice seldom prevails in the dark world of Chicago.
I read the book, I was teaching at a local high school at the time. Every high school kid in the area knew who did the killing and knew the “fix”was in!
Bridgeport has been voting for Dems for over a 100 years, so they voted for everything that’s happening in their neighborhood. Boo hoo.
They’ve recently flipped to the conservative column but it is too little, too late, to save their community. They will be given the Rhodesia treatment after the White Sox abandon the stadium, and Bridgeport’s residents will left to their own devices to fend for themselves. Most of the neighborhood’s current residents will leave. However, this time around, the neighborhood will likely be quickly absorbed into the hispanic neighborhoods directly to the west, rather than the black neighborhood to the south or the asian neighborhood to the north. Some hispanics do become successful and, like everyone else, immediately desire to leave… Read more »
Bridgeport is interesting because it’s an island of Republicans in the middle of a sea of D+90 Democrats. There’s an older guard there still holding down the fort but the younger generation is leaving Bridgeport, with Northwest Indiana becoming a popular destination, I’ve been told. Within my lifetime, probably within the next generation, Bridgeport will fall and it will be as if it never existed…