-- 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
Gosh, and some insist that IL taxpayers are deadbeats who should have been paying much higher taxes all along.
Lower Michigan property taxes, sales taxes and gasoline are what I miss the most.
Indiana has even lower taxes & better services than Michigan.
Ken Griffen will send them a postcard from Florida. “Thank goodness you’re not here”.
Not to worry, it will soon be the highest and going higher.
The PONZI pensions time bomb is exploding and will keep exploding for your lifetime.
This is the largest generational theft in the history of the world.
PPF and the likes of him think it is okay to steal from unborn children.