-- 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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Trump’s tax law change, limiting state tax deductions to $10,000 affected 300,000 filers in Cook County alone. Many of those have relocated to states without a state income tax. Many more will follow.
I say we mine Rosehill for wedding bands and gold crowns. Let’s repurpose this unused bling to pay public sector pensions.
The temerity of prior generations who thought they could take it with em….
Ken Griffen said goodbye Illinois. Chasing out the money people is not a smart thing to do. These are the people who invest in the businesses that employee people. This is not going to end well for the average working family man. Government most likely will do this, because they always make the worst possible decisions possible. I fully intend on voting with my feet ASAP, cannot afford the some of the highest taxes in the nation with some of worse services in the nation. Going to give Illinois the 1 finger salute on my way out.