-- 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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Illinois Democrats are intent on using all the tools of government to drive out-migration, discourage businesses and jobs
Mish used to live in IL, he fled for Utah and is loving it. He said he wanted a well run red state with lots of outdoor opportunities. Good for him.
Illinois is doing its best to chase out its hard working citizens and it is working.
Let PPF and the likes of hm pay for the BILLIONS AND BILLIONS of Pension debt.
Moved to SC in 2021. Big cuts in income tax and with a $2 billion surplus, no pension debt, promises of further cuts, if not elimination. Property taxes down to $1500 from $1600 due to influx of more residents and businesses. Have bigger house on more land than IL where taxes were $10K. No brainer money wise and no polar vortex.
South Carolina is more expensive for people that planned for their retirement. Sure I could save on property taxes but my income taxes would be over 16k in SC and its zero in Illinois.