-- 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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To the writer of this article, well done. Very concise. I like Effingham also, so I can understand this person who may have to leave that location after so many years.
I have always complimented our surrounding states on their handling of Covid and their governmental leadership for how they’re getting things done. So now Indy and other people want to kick this person down, you should be ashamed of yourselves. The problem is Illinois LOL governor JB.
That’s the price you pay for living in Illinois.
You’ve had years & years to pack the UHaul but you didn’t. Time to suffer the consequences of that inaction.
At 1.7% of home value she could consider herself lucky. In Belvidere it’s approx 3% and Rockford is close to 4% and was over 5% a few years back. These high property taxes have kept homes from appreciating for decades now so to move to another area prices have gone up steadily so the spread is getting wider daily. What would help is that seniors should be exempt from school taxes on their properties. That would cut the taxes by more than half.
Heck, I’d take a 50% reduction in school taxes…
But then who would pay for the kids
indoctrinationeducation…???