-- 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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Meanwhile, in other news, Milwaukee is apparently swirling the drain, preparing for a bankruptcy.
https://www.foxnews.com/us/milwaukee-verge-bankruptcy-police-cuts-cant-reach-agreement-aid-deal
Christopher earns this morning’s ‘What a hoot!’ award.
On the one hand, Christopher writes, “…choose Chicago because it is an amazing city with award-winning restaurants, vibrant neighborhoods, world-class universities, robust infrastructure, gritty workers and a reasonable cost of living.”
However, in his very next paragraph, Christopher tells us, “…vital individuals increasingly are looking to set down roots elsewhere as they seek safer streets, lower taxes and better-functioning local government.”
If Christopher’s first judgement was accurate, his second conclusion wouldn’t be a problem.
“Although I did not vote for you,”
LOL – that means you’re the enemy, and he will tax you until you leave, and allow criminals to terrorize you and your family. This incompetent moron is going to turn Chicago into an Johannesburg or Caracas before his third term begins.
Never knew the titanic could sink twice
Good for him for speaking up. And where are the rest of Chicago’s business leaders? Hiding in their country clubs or off in their Wisconsin and Michigan retreats? A major cause of the collapse of our business community is the gutless white business leaders who see no evil and hear no evil.
There are few business leaders in Chicago. The outspoken ones are criticized as racist, the rest probably don’t even live in the city limits any more. Nearly all of them are planning their exit.
Any business that can operate with just phones and computers can leave tomorrow