-- 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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A big part of the problem is that downstate Illinois is a declining and depressing dump; there are far better places to live…
Yes, very much agree. I’d take Eau Claire over Edwardsville, Marinette over Macomb or Marion, Portage over Peoria, Chippawa Falls over Carbondale, etc. IL is a hallowed out shell of its former self as the state intentionally tries to drive deplorables out of the state. But they’ll welcome you with open arms in rural Wisconsin. I spend a lot of time fishing, hiking, camping up north, and there are help wanted signs everywhere, at factories, food manufacturing facilities, even high tech jobs, I knew one guy who has a great tech job at a hops manufacturing facility! Wisconsin grows hops… Read more »
Fishing at its best northern Wisconsin, for me and my son Cable Wisconsin, Lake Owen every year and the people are such much nicer and relaxed.
Haven’t been there, will definitely check it out.
And pay the WI income tax when you retire?
Just a matter of time before Illinois starts taxing retirement income. That will come right after the exit tax.
Agreed about downstate but don’t forget about Rockford. What does it really have to offer?
Rockford is ‘downstate’
PPF,
Rockford should be your wet dream. According to the Registered Star 50% of property taxes are earmarked to fund pensions.
I’ll surmise that you wouldn’t want to spend your golden years there though.
Actually Rockford is a fairly nice city. What caused the major situations it has faced was government oversight of the school system because ya know it was “racist”. Government meddling caused a lot of homeowners to leave and move to the “suburbs” of Rockford which were in more rural areas. However restaurant selections are many, shopping for anything you want, bike and recreation paths all over. The Rock river for boating and fishing, parks and golf courses that are nice, challenging and available for really affordable prices. Free summer concerts, 2 a week at Sinnissippi Park, with some very good… Read more »
So the suburbs of Rockford are nice. Maybe a little of downtown Rockford. But Rockford itself is kind of a dump.
In all honesty, I’d just move 10 minutes north of the border and enjoy all the same without being in IL
Wrong. It’s amazing that you just ignored everything I pointed out. Much of Rockford is in pretty good shape, taxes are an issue, but as far as being a dump your opinion is way off base.
But if you lean conservative and have limited job opportunities, being a police officer downstate is not a bad gig. The people down there don’t resent you like the wackos up here.