-- 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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Hammonds a wierd place, its gigantic, still has a lot of manufacturing industrial tax base, you can buy a home there and live for peanuts, the downtown buildings have some charm, you can commute to downtown chicago as easily as any suburb. You would think with think with everyone fleeing chicago it would be booming..but its not. Used to hang out with friends 15 years ago who lived there and were involed in attempted town revival ..