-- 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 think a lot of people have done that. Hard to get into a good restaurant on the weekend in DuPage unless you have a reservation.
With work from home, food delivery, and streaming entertainment, downtown Chicago has zero appeal for most people that don’t live there.
If people stop spending money it will be the last nail in the coffin for the Chitty of Chicago.
There will be no reduction in Chicago crime until the criminal justice system starts working. Kim Foxx and Tim Evans don’t give a chit about entertainment dollars. The catch and release system will continue. If the cops even bother to catch, knowing that it’s useless.
Two steps ahead of you buddy, stopped spending there after the first round of riots in May and June 2020, haven’t spent a penny since, although I occasionally drive there for work.