-- 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 problem with Chicago are the people that live here.
They are NOT the same people who built this place, worked it’s factories and created new businesses and industries, that much is certain.
Spot on Marko. Future generations will wonder how they did it and where did they all disappear to?
I get the same feeling when I look at the pyramids.
Now contrast this articles analysis with the long list of lightweights running for Mayor. Nope. Chicago is unfixable. Leave before it’s to late.