-- 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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Sure, we can implement these changes, we just need 1,000,000 more straight ticket Republican ballots counted in the mid-terms. JB increased his party’s mid-term turnout by 800,000; surely, the Republicans can increase their own by 1,000,000, right?
Talk is CHEAP.
Higher taxes are set in Stone.
The slide down is going to last another generation.
Do the cash flow and no way but much higher taxes.
The working public was sold out by the politicians for the public sector vote. Now the bill is coming due and will last another 50 plus years.