-- 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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The day of reckoning is approaching for Chicago and IL. Each day we are one step closer to a long and deep economic recession. There are so many black clouds on the horizon that our state’s politicians are blissfully ignoring, because they are economic illiterate. The CRE crash is well underway, and is getting crushed. So few CRE office buildings are being sold or refinanced that it’s a huge deal, and reported in the news, when even one building changes hands. The real estate property market has frozen, it’s basically frozen, with 2023 being worse than 2008, which at the… Read more »
Everytime this guy opens his mouth something stupid comes out. A city that has a gigantic budget hole and massively under-funded pensions is going to hand out money.
BJ puts another $.5 million to his Black constituency. Why not contribute those monies to the “racist” parking ticket problem?
Many Union soldiers from Illinois, from Chicago, died during Civil War. Many confederate soldiers died at south-side Camp Douglas prisoner camp. Travesty for BJ to promote “reparations”, a dishonor to those Union soldiers who paid with their lives.
In addition to reparations to anyone claiming that 150+ years ago a relative was a slave, Johnson wants to “expand the assistance available to formerly incarcerated Chicagoans”. 1) no one deserves reparations, 2) if the city is going to expand assistance for anyone, it should be for victims of crime, not the perpetrators.
Please subtract the cost of any city wide smash and grab looting from my share of any reparations!
Next up reparations for the immigrants and why not? The blacks similarly were immigrants to Illinois once too.