-- 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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More word salad from Brandon. You have to wonder if he believes the BS he spews. A once great city is circling the drain. It isn’t all his fault, but he is in so far over his head in this job that it is certain the decline will accelerate.
“We have the fastest growing downtown in the country”? What medications is he on? I guess he never heard of Austin, Charleston, Miami, Nashville and many other cities that are booming while Chicago is stagnating. What a crock.