-- 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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Can we now deduct the $1.4B from the $45B Illinois infrastructure boondoggle to lower our taxes or do I have to rip out another toilet to save money?
You mean $1.4BB of our tax dollars are coming back to the state in the form of funds to impact our infrastructure.
VERY important to understand those dollars are collected or yet to be collected TAX dollars from those of us who pay in…