-- 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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Any reforms? Did they address anything like property tax reform or pension management fees. Even a little bit would show that they are aware of the pain taxpayers are going through. Were any taxes lowered?
40% of the voters in the state is ignored, completely ignored. Nothing worse that being a Republican in a blue state.
What difference does a budget make?
They were too focused on discussing Urinals to be bothered with a budget. Besides they don’t need to budget – they keep bleeding the citizens of Illinois Dry to cover their losses.
Illinois Budget = Fun with Numbers
For the past 30 years!!