-- 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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I think Lori should bring back large public housing projects and it should all be free! Daley demolishing those vertical rats nests was racist. Have hearings and force the snitch to testify!
All the public housing projects have been abject failures. At least this puts the property back on the tax rolls.
Don’t think that’s true – police stations don’t pay taxes and a lot depends on how the reuse of the property is structured. Too little information to know.