-- 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
Politicians had more than 20 years to decide where to build the Rockford casino in the event of getting a gaming license. They will be arguing and bickering where to put it for probably years. There are at least 4 locations in consideration. The now defunct clock tower location at Interstate 90 and state st/bypass 20/downtown/west side and maybe more. The Beloit,Wi mega project will long be completed and operating before Rockford even picks a location.Google People who care lawsuit vs Rockford school district to see how things work around here. Cost taxpayers approx $250 Mil