-- 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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Ban making a profit from selling cats, dogs and rabbits! No profit, but ya better pay your taxes. Roderick Sawyer? Some kind of tik tok star or former DOWM manager? I’ve heard he’s almost as smart as Dick Durban.
Congratulations Mayor and Aldermen– you really have your priorities set correctly! Scores shot every weekend. Your schools stink. The central business district has collapsed. Your tourism and convention business are in shambles. The City population is shrinking. The restaurant business is on life support. Infrastructure is fifty years or more out of date. Your plan to get lead out of water pipes is a joke. So let’s spend a lot of time and money on reparations. That should really help the mess you have created.