-- 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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The reality is that there are hundreds of thousands of individuals within Chicago’s city limits who simply refuse to comply with parking and traffic laws. Anyone who has visited Chicago knows this. Yes, the laws are strict, arbitrary and capricious. And because certain people flat out refuse to follow the law, they enacted an extremely punitive and painful penalty system to force people to pay their tickets. They’ll even impound your car and charge you ten thousand dollars for $500 in underlying tickets. STOP GETTING TICKETS AND PAY THE ONES YOU HAVE. I don’t know the answer. Chicago is stuck… Read more »