-- 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’m sorry, but the other houses pale in comparison to the Oscar Mayer house. That house is an absolute masterpiece.
There are different ways one can look at these comparisons. The Illinois home is 7400 sq. ft. The ones in South Carolina and California are around 2000 sq. ft. On a per sq. ft. basis the Illinois home has the lowest property taxes.
Illinois anxiously awaits the massive influx of wealthy folks from Tribeca and Beverly Hills upon learning of our great property-tax-to-square-footage ratio.