-- 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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Bill Gates et al is now the largest farm ground owner in Illinois. It sure is good the tax act was amended so that farmers who previously paid taxes on the fair market value of their ground like the rest of us do don’t anymore. Good old Bill needs a break and Illinois is ready to help him out. Thinking on it Illinois is so generous perhaps Jeff Bezos might get a good deal on building warehouses in Illinois too.
Is there any other state with all the $billions$ in biden bucks from ARPA they are set to recieve that is still raising taxes? Or just pension bankrupt Illinois??
The loophole that needs to go is the loophole that allowed the Dictator to impose a 30 day state of emergency for over 360 days