-- 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 guess these folks missed all the empty store fronts in evanston
“But the report gives suburban Evanston a shout-out, citing it as an example of “hipsturbia”: suburbs that have a vibrancy and cool factor, along with an abundance of retail, restaurants and recreation.”
Obviously the authors have never set foot in Evanston. Looking at data on a spreadsheet is much different than putting boots on the ground.