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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 lack of logic on all of this is appalling. Metra and the CTA are trying to keep their suburban to downtown schedules alive to bring in workers from the suburbs, while the jobs aren’t downtown any longer. So you want affordable housing downtown to fill the floor space left empty by fleeing businesses, and the jobs aren’t downtown any longer. Do we need affordable housing for Google workers? Of course not. Nobody has a plan. The Governor and the Mayor (whoever that is going to be) are out to lunch completely on this. Affordable tenants do not support high… Read more »
It’s beyond appalling, it defies any level of thought or assumes crime will one controlled.downtown is dead!don’t bother with any halfassed measures to make it attractive; like more bike lanes. Lori should be held financially libel for the whole shebang!
It is a dead issue, downtown is a goner, DOA.
Google will back out in due time. No one wants to be where there is lots of crime.
Cops do not want to be there either.