-- 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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Well Detroit was a big city and at one time you could buy a “home” for $1.00!
There’s plenty of reasons why Chicago is so cheap. It’s a pretty crappy place to live for those without means: bad weather, violence, segregation, horrible schools, horrible politics, high taxes. Spouse today interviewed someone for a higher level job who seem interested in the work – but then dropped the bomb: “but I’m reluctant to come to Chicago”. My spouse just smiled knowing that there have been several shootings, murders and smash and grabs within .25 miles of the office, a co-worker in the interview had her vehicle broken into last week, and the office is more than half empty… Read more »
JB Pritzker sincerely believes, in his early stage obesity related dementia, that Illinois is a workers paradise full of weed, freedom from criminal prosecution, abortion and gambling on demand, and every other demented progressive idea scrubbed off twitter. However, the rest of the country see us as a basket case, and no one wants to deal with it, except for the Venezuelans who are overwhelming CPS.