-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Some take a different view regarding these cities. As an example consider the following on Danville
https://www.areavibes.com/danville-il/crime/
Not in Illinois # 1 place to live after pandemic.
They failed to mention that Springfield needs $306M to fund police and fire pensions and has high property tax’s according to Illinois Policy.
It would be interesting to see BI’s financials. Methinks there’s a bit of paid bias going on here for multiple IL cities to end up on the list.
BI and Marketmatch, despite allegedly having a center-right bias, are typical left wing rags.
One of the great ironies of recent time is the fact that media bias fact check is itself heavily biased.
Exhibit A:
https://mediabiasfactcheck.com/capitol-fax/
Springfield made a Most Dangerous Cities list in 2017 making me question the validity of the ratings. The rate of violent crime in Illinois’ capital city is 1,055 per 100,000 residents.
There were 11 murders in Springfield in 2017, up from six the previous year. Like in most major U.S. cities, the majority of the violent crime in Springfield has been aggravated assaults. The city reported 1,219 violent crimes in 2017, and 864 of them were aggravated assaults.
https://www.cbsnews.com/pictures/the-most-dangerous-cities-in-america/2/
“Henry McKelvey Blodget (born 1966) is an American businessman, investor and journalist.
He is a former equity research analyst who was senior Internet analyst for CIBC Oppenheimer and the head of the global Internet research team at Merrill Lynch during the dot-com era.[1] Due to his violations of securities laws and subsequent civil trial conviction, Blodget is permanently banned from involvement in the securities industry.[2] Blodget is the CEO of Business Insider.”
From his own wikipedia page, no less.