-- 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 obvious way to instantaneously solve chicagos so called housing crisis would be to alow all the empty retail properties & storefronrs to be converted to apartments. Which for prop tax hungry city & county who need those retail prop taxes to feed are undercompensated public sec heros would mean rezoning to residential. Wheres the outrage from the blm/woke??