-- Connecting the dots between our economy, government and business --
"Some of Illinois’ economic doldrums are the inescapable legacy of its outrageous past failures to fund its public-employee pension systems. In Chicago alone, more than 80% of its property tax revenues go to pensions. All the more reason to take whatever steps possible to ease the tax and cost burden on businesses rather than worsen it."
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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Carnival barkers, all of them, spelunking for misery! Don’t believe your eyes or ears, or even the data or actuaries, believe in Bigger than Life Billionaire and unwavering Israel Supporter JB Pritzker! Big Poppa Pritzker will save you for $10 a ballot signature!
Pritzker the putz speaks two languages one
Before election and one after election.
If he was twice as smart he would be an idiot