-- 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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This would be correct if the family of 4 ONLY gets $26K. What is the $$$ value of subsidized housing/link cards/reduced utilities/free child care depending on age/free medical/cell phones and on and on. This link is almost hard to believe. Every state is different so Hawaii is an exception.
https://www.kauai-hawaii.com/how-much-is-low-income-in-hawaii/
Look at the property tax rate there. Rockford’s tax rate is almost 16 times more at just over 4%
https://www.tax-rates.org/hawaii/property-tax
Why the biased report? They get more public shaming points ignoring all the taxpayer-funded benefits.
On every level we’re conned left and right by these biased and imcomplete reports.