-- 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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Hopefully there will be a clawback. Roads in Central IL are awful. Drive through NC, Va, OH, or WVa and you will quickly see that the monies for roads in IL are not being spent on roads. Cook just the latest and biggest.
I want prison time for these politicians. No more “special investigations” no more hearings or special councils. Prison time. Long prison sentences. And loss of pensions. And financial disaster to these criminal politicians and their heirs. I want my pound of flesh and I want them to suffer until their demise.
Of course this is just a fantasy since there are two systems of justice currently in the US: Democrat wrist slaps at worst and then the justice for the rest of us.
The Lockbox Amendment always wins.
This is exactly what big labor wanted: earmark tax dollars for one specific purpose thereby putting pressure on all other taxing bodies to increase taxes. They knew this and we fell for it.
https://wirepoints.org/lawsuits-on-safe-roads-amendment-could-blow-big-hole-in-state-budget-too-quicktake/
Freddy, would you care to give us your input on this topic? Not having it for the IL public employee pension systems is your primary go-to area of governmental financial management complaint, I think.
I would but I have a more pressing event to deal with. My wife had a heart attack a few days ago with the artery also called the Widowmaker had 99% inclusion but we caught it just in time. The doctor did an angiogram and angioplasty to put in a stent via the wrist and pull out the blockage. It worked perfectly and she will be fine. What led up to this is a mystery since her blood work was textbook perfect. Trigs at 62-high HDL high/Low LDL and all other blood work perfect. May be heredity??. Bad news she… Read more »
Freddy, our very best to your wife and glad to hear she is OK.
Freddy, I am truly sorry to learn of your wife’s tragic turn of health. We all know that such things are ever drawing closer with advancing age, but that’s not to say its ever something easy to contemplate let alone have to experience it at some point. I mentioned you on this topic only because of your repeated earlier postings on it and certainly not to castigate your point of view at all. I think we all value your input, and I have no quarrel with your basic premise at all. While I don’t know you in a personal sense… Read more »
Crooked/Corrupt Cook County Democrat Boss Toni Preckwinkle is stealing gas tax dollars for welfare giveaways, illegals, abortions, child sex changes, CRT, DEI, and reparations
Folks, this headline really belongs in chapter of the Chicago Way playbook.
We all know that we need to have good roads here or businesses won’t locate here. The funny part is the voters that overwhelmingly supported this had no clue this would be the result. Apparently Toni is not getting enough campaign contributions from the transportation and road builders. Here’s how you deal with this Toni, you lower the tax rate for transportation related taxes and raise it for others. But of course when does a politician ever lower taxes.
TNA man!
Toni Taxwinkle said “we’ll use the money however we damn well please!”.