-- 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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Unfortunately, when we left IL, we kept our IL wireless plan. Our wireless number is used in so many places, it would be almost impossible to inform everyone of new numbers. So IL still has its financial claws in us. Small price to pay when saving $10K in property taxes alone.
Illinois doesn’t bother nickel and diming you to death. Nope, Illinois wants hundreds and thousands more. Thanks JB!
Nothing new here. You pay more for sales tax, property tax, transfer tax and gasoline tax in Hellinois too.