-- 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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Welcome to the future of Illinois…except its happening now.
Explains why the only streets they salt when we have ice or snow are streets where city council members live (Lane Acres, for example).
I have to laugh on this because there are plenty of Democrat party voters in that area. Hopefully they will not leave bringing their voting patterns to other areas that fully know well what the outcomes of liberal voters bring to us all.
Someone is scared too bad…they voted for it and now should be forced to live in places that they voted for.
Not sure why you believe there are all these Democrats in Mattoon let alone Coles County which solidly voted Trump in 2016 and again in 2020.I live in Shelby County next door about 35 miles from Mattoon and can assure you it is hardly a liberal haven.
as a former Coles county resident, I find this hilarious.
look folks, leaving Illinois will be the best thing you do for your financial health in your lifetime. You can rid yourself of the real plague terrorizing the people simply by relocating to a red state. The Illinois democraps are a giant puss filled boil that will eventually pop and you will be left to clean up the mess. The grass actually is greener in almost every other state.
Beg to differ with you. Coles county solidly voted Trump in both 2016 and 2020. I live 35 miles from Mattoon and while it may have it’s faults being a liberal cesspool isn’t one of them.
Why not try litigating to force local school district to fully report and fund accruing OPEB obligations?
Nothing wakes sleepy taxpayer/voters up like a big new tax bill they never realized they had to pay.
And it’s still not enough
Will this be disclosed on the property tax bill? So every line item on the bill has “pension fund” at the end? Library pension fund, police pension fund, fire pension fund, school pension fund, etc…
Lol. Good point.
Must seem perfectly sustainable to a government knuckle dragger.
IL Gov .. ‘Best and Brightest!’