-- 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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Shut up and pay your taxes. If you do not like it leave or just shut up. The Public Sector Unions run Illinois, like it or leave it. Taxes are NOT going down, but up, up and away.
Hmm, I would think with declining CPS enrollment the portion of property taxes earmarked for public education would go down and I might even get a rebate on prior taxes paid.
A friend of mine called last week and told me his tax bill went up 30% over last year, and my old condo saw a 38% increase. So expect a commensurate pay increase for city/county/state employees, courtesy of Amendment 1.
Also, my community has never seen a tax referendum it doesn’t like. Here’s a couple hundred million here for the schools, tens of millions for the library, another $40 million for the parks, here’s $10 mil for some renovations…..every time. Then THESE SAME PEOPLE WHINE that their real estate tax bills are too high! Well, duh! Did you vote in favor of the last four referendums? If so, THEN SIT DOWN AND SHUT UP, AWFL.
Your right about that. Give then an inch and they want a mile. An ice storm collapsed the inflatable dome over the gym at Hononegah high school in Rockton back in 2016 and estimates of damage to repair was just over a million which was mostly covered by insurance. Then it morphed into a massive boondoggle with everything under the sun added in Taxpayers could have been on the hook but it passed at approx $17M for something that was insured to begin with.
https://www.beloitdailynews.com/uncategorized/dome-replacement-pool-on-hononegah-wish-list/article_5e3fe303-457d-5cf3-99da-f2e0d240b50e.html