-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
LOL the entire northwest side is quickly turning new immigrant hispanic who don’t frequent the types of businesses in his ward. It’s rapidly creeping into the 41st ward and taking over formerly working class neighborhoods with life-long Chicago residents. Meanwhile, commercial property taxes are INSANE and are too high to support the dollar store/taqueria/bodega/Boost Mobile type stores that proliferate in these newly hispanic areas. So that strip of NW highway is a complete dead zone. The City’s insane parking regulations on every street in that neighborhood don’t help either. It takes a manual to figure out if it’s OK to… Read more »
Excellent post.
Debtsor, I’ve gotta hand it to you. You really do your homework before you post anything.
Yes, he sure does.