-- 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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Notice the common denominator Property taxes not crime or weather but property taxes. When will the property tax task force get off their lazy butts and do something? Nothing in the news about that but plenty of news on all the out of state abortions which is about 17K. The governor must be jumping up and down about that news but on the other side of the planet people are flying into space.
We need property tax reform ASAP and I believe that will keep many from moving away but nothing said anywhere in the local news.