-- 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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Maybe the Oak Park board should looking at ways to prevent spillover of crime this summer from its out of control neighbor to the east. That may protect property values in the village. They don’t have the toney suburbs on their borders like Evanston. Maybe focus on encouraging a climate for job creation for all? Btw, most people of European ancestry in Chicagoland came through Ellis Island and similar immigration paths well after slavery was abolished. They struggled to integrate, but persevered and ultimately succeeded. What a bunch of blowhards.