-- 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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Not much being said about the stunning shortfall in Ballys money that Chicago already spent. Not much at all.
Notice that the state gets over 5 times the tax revenue that the local governments get. That is 80% cut for the state and 20% for local. Most of the money should stay in the local community to help out taxpayers. If local governments would get 80% think of what they could do with that money. Al Capone is rolling in his grave if he knew how much the state is getting from betting which was not legal then. Also booze and cigarette taxes bring in millions more. Keep most of the money locally and keep it from the Springfield… Read more »
JUST ENOUGH TO KEEP THE ILLEGALS IN VISA CARDS!