-- 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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690 million while the pensions are not funded?
The Bears leaving isn’t a gut punch. Widespread corruption, violence and wokeness is the gut punch. It’s why no one wants to go to Chicago anymore.
I can’t understand where the stampede of Bear fans will come from?
Simple fact– won’t happen without significant government financial and other logistical help. And there is zero appetite or funding for that in the City or State. And when the City decides to close the Kennedy and Edens every Sunday for roadwork, and the Tollway gets closed as well, folks can’t get there.