-- 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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I still think it looks like Azkaban. Maybe it will look more presidential and all Barack when covered in gang graffiti and chip bags.
I mourn for the loss of acres of Jackson Park land – and the 800 trees that will be sacrificed at the altar to Mr. Obama.
So much for caring about the environment and providing recreational areas for the people of Chicago.
An all-around travesty.
Should be over $1 billion when finally completed…
Boondoggle heaven
Probably will push $2B maybe just short of $3B. Lets just round it off to $5B plus change and call it a day. Then the monument(sorry library) will look like The Who “Who’s Next” Album Cover
If any building deserves the Howard Roark treatment it is this one. The blatant theft of public land is appalling and disgusting. There will be no justice until this building is eliminated and is once again parkland. Forever open, clear and free.
Just read Matt Taibbi’s recent retrospective on the bower in chief who led from behind…
Guy was a grifter and a charlatan – his only accomplishment was persuading folks that schmucks can come from every race!
Any truth to the rumor that there will be a solid gold statue of Obama that each visitor must kneel before and kiss before entering the “library”?
Probably right next to The Colossus of Pelosi.