-- 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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And to replace good companies Illinois has a booming destroy life and stoner industry. How disgusting!
All the companies and people fleeing can see the large tax increases coming. No other way as PPF says, Pensions must be paid in full and that will be paid by the businesses and residents. The public sector unions have set Illinois on a path of destruction. No hope on turning back now, much too late.
Now that crooked corrupt union racketeers are running Illinois, it’s no wonder that job creators are headed for the exit.
Waaaaahhhhhh. Those mean old unions negotiate for pay and benefits. Why won’t they just take whatever low ball offer we provide.
I am going to follow Ken Griffin to South Florida and take my economic activity with me. Best of luck sucker on trying to get blood from a turnip.
You’ll have to put up with the really hot weather and hurricanes there. Accompanying every such decision you’ll give up some things while getting other things. Such is life at every decision point. I hope the spouse is equally joyous with this decision down the line, but don’t bet on it.
We’re sitting here in SC reading about the massive floods and tornadoes up in the Chicago area, remembering how many times we ran into the basement because of tornado warnings or how many times the electricity went out in a storm and the sump pump failed even with a battery backup. Temps here are only about 3-4 degrees more than Chicago. And, of course, no snow. And $10K less yearly, in property taxes alone, state income tax lowered, to be ended, and little pension debt. Chicago is such a paradise! Don’t miss it a bit.
And I forgot to mention that wonderful air quality in Chicago. I see alerts every day in Chicago papers warning people of the poor air quality, even though the Canadian wildfire clouds have left.
You keep saying that but you refuse to leave. You love it here. A friend of mine bought a house in south Florida for 500k 3 years ago. A house next door to him that is similar just sold for 950k. Your inability to make a decision is costing you money. Not to mention the cost of homeowners insurance has skyrocketed. Make a decision PT. Otherwise Illinois will start looking like a real bargain. lol
You’re right, FL has become too popular, real estate has boomed. Try hot spots like TN, although Nashville has also boomed. Charlotte is also becoming popular, as seen by the number of companies moving there. Lot of options besides FL.
Agree there are lots of options but the longer PT the procrastinator waits the financial advantages shrink. Tennessee is a good choice with relatively low property taxes and zero income taxes but the price of real estate has skyrocketed there as well. Prices may come down some but many Illinois residents won’t find the bargain they are looking for. Charlotte has an income tax on retirement income so for me that would cost me about $14,000 a year in income taxes that Illinois doesn’t charge. South Carolina would cost me around 19k in income taxes. If you make a decent… Read more »
Illinois is progressing and moving forward according to the marxist democrat plan just as the whole west coast is.