A Particularly Foolish Pension Article By Somebody Who Should Know Better – Wirepoints Original
Automatic annual tax increases in whatever-it-takes amounts to fund all our pensions? Good luck.
Automatic annual tax increases in whatever-it-takes amounts to fund all our pensions? Good luck.
New census data released yesterday show Illinois had a net loss of more than 270,000 prime working-age adults (ages 25-54) over the last decade, with 85 percent of that loss attributable to outmigration rather than mortality.
“Earlier in Rauner’s first term as an elected official, there were questions about whether he was so idealistic that he couldn’t strike a political deal. This year, Rauner was so eager to get a deal, he threw his political agenda overboard.”
If you’re being bled dry by taxes in Illinois — or in the 21 other states with powerful public-sector unions — you’ll want to pay attention to the U.S. Supreme Court on Monday.
And if you’re among the many thousands who’ve already fled or are thinking about running from this corrupt and broken state in the continuing mass taxpayer exodus, you might be interested as well. Because on Monday, the high court is expected to decide a critically important workers’ rights case: Janus v. AFSCME.
A Tribune review of city records shows that the number of affordable residences built is running below City Hall projections by some measures, and the fees paid by many developers to fund affordable housing have been mostly steered away from gentrifying neighborhoods. Comment: We laid out the plain facts showing this program to be a failure three years ago, but we were ignored.
Large swaths of Central America are battlegrounds for mafias wrestling over lucrative smuggling routes for U.S.-bound heroin and cocaine from South America. Many of those routes lead right here to Chicago, which has emerged as a major hub for the distribution of cocaine, heroin and marijuana.
Illinois’ 2018 adopted pension measures were not as clearly defined, Fitch said. The lowest-rated U.S. state established a bond-financed buyout program for current and former public employees it expects to yield $423 million in savings for the fiscal 2019 budget.
“Notably, the timing of rollout will be lengthy and the precise fiscal impact will only be known upon conclusion of the program and could vary significantly from the initial estimates,” Fitch said.
Mayor Rahm Emanuel came to know David Pecker through working on a deal during the time Emanuel was working at an investment firm. Pecker, chairman and CEO of The National Enquirer parent, reportedly was subpoenaed by federal authorities in New York as part of their investigation of President Donald Trump’s longtime lawyer Michael D. Cohen.
An interesting history. And it’s accurate.
Comment: No, there’s actually not a solution offered here. See our critique of this article linked here.

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