-- 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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Chicago residents are in a state of Stockholm Syndrome, they will continue to vote for the woke agenda and fantasy finances. The outright communist dictator Chuy may have a better chance than Vallas because he’ll promise a utopia and the sheep will buy it.
Chitty of Chicago is dead A$$ broke. DOA, not the change of a nickel. Overly generous pension time bomb is going off. There is no money for anything but Punta Gorda Luxury homes. Must be paid for by much, much higher taxes. The Politicians have sold out the taxpayers over the years for public sector votes. The chickens have come home to roost, time to pay out your A$$.
By every measure…IL political class/metrics are at the bottom. Has been for decades. Indisputable.
CHICAGO — Mayor Lori Lightfoot is the first to admit her bid for re-election will be far from smooth. “There’s nine people on the ballot,” Lightfoot said in an interview with NBC News. “It’s impossible not to have a runoff.” What’s appearing increasingly possible, however, is that Lightfoot will fail to make it even that far. In Chicago’s municipal election, if a candidate fails to win a majority, then the top two vote-getters face off against each other in a second round of voting in April. But with less than two weeks to the Feb. 28 election, the firecracker Democratic first-term… Read more »