-- 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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Will unfunded mandate raise, or lower, real estate taxes?
Do they even care?
“Moredock is Principal of the Little Flowers Catholic School in Springfield and a practicing clinical psychologist. He says after the past two years of educating in a pandemic, Illinois’ students need more support.”
Psychologist says schools need more counselors! Shocking! Stock broker says you need more stocks, used home seller says you need a bigger house, and used car salesman says you need a more expensive car!
Who would have thought!