-- 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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Chicago taxpayers going get it good and hard from Mayor BJ.
Glad I voted with my feet over 20 years ago and left Taxistan.
My bank account is $200K fatter because of my smart financial decision!!
Something has to give and soon. I think the taxpayer will get hit with some large tax increases, it is the only way to go.
The new guy is in so far over his head it’s nothing short of a catastrophe in waiting.
He’s trying to boilerplate a plan before throwing his hands up and screaming Fck this!
I’m betting on a big return of “scoop-n-toss” funding in the fiduciary Brandon administration.