-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
I`m not sure the typical home owner is aware just yet that annual property tax increases are baked into the yearly budget no need for media headlines bout a vote on property taxes when the yearly budget passes property taxes will raise
Whaaat! Ya mean this is like the promises regarding the Lottery? Benefits misrepresented?
from this point forward any projects should be justified under oath! Not that anyone would suspect they’d lie! Approved based on the threat of higher taxes! Shitbaggery!
I’m surprised they sold the casino as a pension payment plan to begin with. How boring.
They didn’t quite sell it as a pension payment plan. They sold it as, property taxes will increase if we don’t add a casino to help pay for pensions.
Nothing can fix the pensions, the cancer gene was inserted when the state took the “pension holiday” (code for did not make the required contributions). No amount of pot, gambling, whores, Biden Bucks or accounting magic can ever make the pensions whole. The casinos better have airport grade metal detectors, body scanners and Special Forces grade security or these “casinos” are going to be the scene of nightly ghetto fabulous shootouts, wilding rampages and the thing Chicago is best at radical urban violence. People go to Casinos to get away. How many of the remaining Chicago residents are really going… Read more »
Those same taxpayers “elected those idiots” so they are getting what they wanted.
Again, the people are the root cause of all of Illinois’s problems. And not even all people, just Democrat and independent voters.
https://slate.com/business/2022/05/casinos-new-york-city-chicago-philadelphia.html Full House: American casino development has hit its saturation point. “In Chicago, the City Council voted on Wednesday to approve a deal selected by Mayor Lori Lightfoot—the operator Bally’s at the old Chicago Tribune printing plant. (It is, if nothing else, a perfect metaphor for the city’s once-proud paper, which is being picked to the bone by the vultures at Alden Global Capital.) In a way, the entry of bona fide casinos to Chicago and New York represents the triumphant return of urban gambling. Up until the early 20th century, gambling was an illegal but highly visible vice in… Read more »
Hello morons 2+2 = 4 not 6 bunch of idiotic morons