-- 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 it really matter if the tax increase is done during the lame duck session, March or May? Even if they can get to June without a tax increase they will need one for the next fiscal year starting July 1. Will it be closing “loopholes” for “rich” business owners so they can pay their “fair share”? Just an outright increase in the flat tax with a possible increased exemption? A combination? Not really sure what they’ll do but I’m positive that taxes will be rising. Oh sure, a little kabuki theater around spending cuts will occur but that will… Read more »
If the past four years has taught thinking, rational people anything it’s that Democrats will ignore reality and do exactly the opposite of what responsible, moral, sentient beings would do when faced with a problem or crisis.
They will do whatever they can to make things worse believing that will propel them to greater power and control whereby they will be insulated from the consequences of having to live in their alternate reality.