-- 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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Sheeeetcago is a black hole when it comes to property tax needs.
Vote with your feet Illinoisans and leave this Dem controlled cesspool of a state.
Glad the Feds finally nailed Dem King Mikey Madigan and will be putting his arse in jail soon.
In other words, Chicago taxpayers will be seeing new and improved multipliers on their PT bill line items.