-- 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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Home rule allows a unit of local government to more easily hike hike certain taxes. Plus it provides additional powers to the unit of government. Think of it as the Local Government Power Rule. And the Avoid Some Referendums Rule. The result of a successful home rule referendum is a more powerful unit of local government, and less powerful citizens and weaker voters within the jurisdiction of that unit of local government. Lyons, Lakemoor, Wauconda, and Bull Valley have Home Rule referendums on the April 4, 2022 election ballot. A common reason for wanting home rule is the unit of… Read more »