-- 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
We need a town hall here in Rockford to discuss high property taxes. ASAP
AH taxpayers should learn from examples Rockford and Woodstock about TIF and profligate public spending for narrow benefit of a few developers-friends-of-the-regime. TIF is complicated by design. The claim that ‘TIF doesn’t raise property taxes ” is so obviously false that any moderately intelligent human cringes when we hear it spouted from complicit politicians. Are these politicians blatantly corrupt, or too stupid to even understand that they’re spewing absolute falsehoods? Which is worse? But, it requires a slight bit of effort to understand TIF, inflation, and property tax rates. Many would be glad to explain these complexities to willing listeners,… Read more »