-- 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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Does anyone buy gas for their cars in Chicago anymore? The gas prices are already much too high; now, they’re increasing the tax? Once again, these politicians don’t think things out. As they make prices prohibitively expensive, people stop buying the products. So much for projections in increased revenue.
DEMS solution to everything—TAX, TAX, TAX.
You can not get money out of a dry well.