-- 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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Word of advice: find a storefront in DuPage County, relocate your business – pronto.
Hub cap shops, nail salons and second hand furniture stores don’t get robbed quite as often as high end retailers. Things will be better when business adapts.
“We just got to hope that our city can do better” Will the police department become fully staffed and allowed to enforce the law? NO. Will the prosecutors actually prosecute and jail criminals? NO. Will the SAFE-T Act be repealed? NO. Will crime increase? YES Will city taxes keep going up and city services keep going down? YES. Will middle and upper class people continue to leave the city? YES. Will city finances continue to worsen? YES Will the elected officials become less corrupt? NO. Will the CTU continue to demolish the school system and fail all the students? YES.… Read more »
IMO, rename Chicago, “The City of Grifters and Corrupt Dems”.
I hope that all Illinois Dems are sent to re-education camps but I know it won’t happen.
Vote with your feet and leave the corrupt Dem controlled cesspool of a state I call Taxistan!!
Hope is not a strategy.
Things could always be worse!
And don’t worry, they will be!