-- 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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What will gas prices climb to when a hurricane forms in the Gulf? Season starts in 2 days.
Gas is $5.50 a gallon by me in the suburbs.
Thankfully Wisconsin is just about a 10 mile round trip for us. Rarely buy fuel in Illinois and gas in Wisconsin is consistently $0.30 a gallon cheaper the difference has been as high as $0.90 cents a gallon cheaper. Large purchases from there as well with a straight 5.5% sales tax. Automobiles bought there as well and only pay the 6.5% state (illinois) and none of the local county taxes which could run the taxes up to 9%. Just the other day the gas station I visit was jammed, 8 pumps full and about 10 vehicles waiting to gas up,… Read more »