-- 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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Hmmm….Is Vallas endorsing a hands on approach? Wood shampoos. Coco Bella drum solo?
Chicago and proactive are mutually exclusive terms.
If downtown Chicago keeps up its trend Chicago is DOA
There was a short window in early 2021 to reopen Chicago successfully like many other big cities reopened. Chicago botched it big time and remained mostly closed. As result, Chicago is already DOA but no leader will tell you the truth. Michigan Ave is nearly vacant. The Loop offices have record high vacancy rates. Workers aren’t coming back full time. Tourists have moved on to other places. Suburban residents actively avoid Chicago. UMC parents are leaving the lakefront neighborhoods for the north shore. College grads bypass Chicago to take jobs in other cities. Companies are hiring elsewhere but not in… Read more »