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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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Downtown Chicago is forever destroyed. Because what the city needs to do to fix it is politically untenable. You can’t just flip a switch and expect people to just come down town again with all the crime and vagrancy. My leftist friends (they are everywhere and unless you want to be a hermit, you have to be friends with leftists here) even admit that downtown Chicago and River North have been overrun with, essentially, young people, gang bangers and criminals, mostly, but not entirely, Black. They throw parties at the high end hotels for $80 a room a night, and… Read more »
Another breath of candor from Debtsor.
Check out this article from less than one hour ago! : https://www.chicagotribune.com/politics/ct-chicago-alderman-attacked-outside-bar-20210222-jbcsuzqg2bai7ibomc4bsozzla-story.html Alderman says he was attacked by two men outside downtown bar: ‘Out of nowhere this guy ran up on me.’ “It’s no secret that there’s been a rash of crime and violence downtown,” Reilly said. “There are big numbers of people who come down to this part of the city on Thursday through Saturday nights. People are inebriated and there’s a lot of drug use going on down here, and it can get chaotic at times. I would like to see a stepped-up security presence in our hospitality… Read more »