-- 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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Because we’re talking about Chicago in 2023, I’d slightly change the title of the article to: “Not-shocking daylight robbery caught on video in Bucktown.” There, I fixed it.
That video is why you don’t leave home without it.
Bucktown residents voted for BJ — this is what they get
Sounds like the Mayor Brandon we all have come to know all too quickly. Unaware and unprepared to deal with any problem. He is amazingly consistent in this regard.