-- 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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Cracks are getting larger!
Wow shes hard to take, the master at blaming illinois fiscal mess on everyone except the zero layoff/ zero cuts dem machine. But as a sign of just how desperate a mess illions is in, in this interview as well as others she keeps begging feds to change the rules and allow her to use fed bailout$ & fed loan$ for non-covid expenses
We have the magical 5% income tax rate everyone begged to go back to in 2017 that was absolutely needed to pay our bills and we borrowed $6 billion to get the backlog down to its current level, which was $3 billion higher than it should’ve been, pandemic or no pandemic.
There’s always an excuse with these people.
its never enough, they will always demand more and more in taxes from us.
My mother used to be a preschool teacher, and she had a book entitled “If You Give a Mouse a Cookie”. It starts, “if you give a mouse a cookie, he’ll ask for a glass of milk.” The book then progresses with further and increasingly ridiculous demands the mouse will make. Few things have taught me as much about human nature as that one little kid’s book.