-- 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 Illinois tax payer is going to get stuck with the bill to either finish this monstrosity or tear it down. It just hasn’t happened yet, but it sure feels like it will become another tax payer funded boondoggle.
Giant outhouse
Has all the charm of the sarcophagus built to contain the leaking reactor at Chernobyl.
Maybe Pinhead could add a special tax for entering the ugliest building ever built..
Why spend so much money, when it’s only going to hold digital files??
Where’s the Wookie?
Hilarious and accurate.