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.
Some of the highest taxes and not the change of a nickel. That says it all.
Illinois is dying a long agonizing death. It will be dead before long. The money will flee overnight and let the Pensioner’s eat their young. The more people who flee the more that more people flee. U Haul trucks will become scarce as a cop, firemen or teacher who does their job.
As IL, in its increasingly dire financial situation, continues to increase and create taxes and fees, more and more private-sector “people with money” will relocate out of state. Businesses will follow suit. “People with money” now includes middle-income, upper-middle-income, and affluent categories. This continuing exodus will create an untenable situation for the lower-income people remaining. To make up for all the money leaving IL, PTs, as an example, could go to around 10 percent of property values. How could any pro-IL public sector advocates think this scenario will go on indefinitely? In other words, how do they envision IL will… Read more »
I propose we exhume every plot in Rosehill and confiscate wedding rings and gold crowns.
Illinois democrat socialist sh*t-stains are running out of other people’s money
No they’re not. Lots of money still left to tax.