-- Connecting the dots between our economy, government and business --
The Chicago casino is still in the works, but it's likely to end up raising far less money for the city than originally promised.
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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As long as the politicians get their beaks wet, what does it matter whether a Chicago casino raises any money for the taxpayers?
Jeez. Its like you think that any public project like this ISN’T first and foremost for the benefit of the entrenched and incumbent machine politician’s enrichment.
As if it would serve any other purpose? What are you? Some sort of Chumbolone?
How could you screw up having the one and only casino in Chicago?