-- 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
Folks, another reason to stack. It’s a pity I’ll still be around when it implodes. Imagine yhe chaos we’ll have when a 4th generation welfare receipient has to produce something of value.
As a downstate Illinoisian I have no concern regarding Chicago after school programs, staffed by the CTU no doubt, nor any concerns with illegal immigrants who migrated to the sanctuary city for USA freebies. We have ouir own problems down here…quit trying to push Chicago’s problems on us.
They hate you, deplorable.
I look who is standing behind this guy is Rep. Vella from the Rockford area. Where are the Repulicians shouting back at this. These guys will not stop until all of us are broke. Lord help us 1
This will not end well for most taxpayer of Illinois. Run out the rich job creators and the hard-working families will pay higher taxes for generations to come. There is no free lunch.
France tried this, and experienced significant capital flight, with increased burdens on the middle class. I suspect that the politicians here think that they are somehow immune from this economic behavior.
Right
Tax those who do the most for Illinois economy (and drive them out of state)
Give the money to illegals who do nothing but live off government handouts
That’s the Illinois Democrat agenda in a nutshell
This maybe the dumbest idea I have heard to date. Trying to impose a state based wealth tax on a Billionaire to pay for Illegal immigrants.
How do these idiots get elected.
How do these idiots get elected, well my friend take a look around you, surprise guess who.
The get elected because ALWAYS VOTE BLUE NO MATTER WHO!
Many also run unopposed. Sometimes between 50-65%. If no one shows up to vote except themselves they are in.