-- 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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Who doesn’t love voting themselves money?
Dear Pilsen, welcome to the Northside of Chicago. We have been dealing with massive property tax hikes for 20 years.
Squeezee the python is getting a tighter grip
And it will only get worse. Sending anything to Springfield will not get you anything,
El Gordo will make sure of that.
The unions response is “ shut up and pay”.