-- 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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Interesting that WTTW sees a tax hike as a way to help victims of the looting and riots. Not surprising that the “beneficiaries” did not see it that way.
I am really torn here with some diametrically opposed considerations. I used to come from Deerfield into the downtown for a good time. My current wish is to help the businesses survive. The big but in this equation is the disappearance of personal of personal safety anywhere in the city, but especially in the downtown area. I’m not as young as I used to be and I don’t think I could fight my way out of trouble anymore. After carefully weighing the two considerations Wifey and I have decided we won’t be coming back. It doesn’t help that the mayor… Read more »
Why should landlords pay a civil unrest tax?