-- 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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Hmm, will Kwame ever get around to issues related to Public Charges?
In Chicago, one of the most heavily regulated cities in the country; in Illinois, one of the most insanely regulated states in the nation, a large building gets built and a hotel and condominium operates within. The operations generate millions of dollars in property taxes, sales taxes, amusement taxes, water discharge fees and more to Cook County, the City of Chicago and the State of Illinois. For seven years, little notice is paid to the structure, except for a few afficionados who lament the loss of the stubby, shabby Sun-Times building. Chicago Democrats treasure bathe themselves in the cash they… Read more »
“Illinois is lost. Chicago is dead.” And that is the truest statement I have seen here.
At this point, if you stay, you are just an enabler of the destruction. Short of divine intervention, Sodom (AKA Chicago) will perish with all its inhabitants.
If you think anything is going to change, you just might be delusional.
Things will change, but just not for the better. It’s all leading towards collapse, like New York 1970’s French Connection or Serpico, with NYC in ruins, and the criminals in charge of the city.
I read recently that the system used in Trump Tower is the same as used in 7 other buildings. If true and the other 7 lack the fish filter, then why is only Trump Tower sued? Perhaps the AG could divert his attention to the Mayor in Dolton IL.
Hundreds of city, state, county and federal regulations had to be involved in the construction of the building. Hundreds of approvals and inspections before, during and after construction. Permits by the hundreds issued by the same city, state, county and federal agencies issued and inspected yet now the Trump organization, hated by democrats everywhere, is being held responsible/liable for the water discharge situation that was approved by all permitting agencies. Amazing.
Would it still be ruled a public nuisance if it was called Biden towers or Clinton towers or any other democratic president? What if it was Daley towers?
Or the Obama Center!