-- 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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This property tax fiasco in Illinois needs to have the plug pulled on it needs a total revamp and restart, unfortunately there is no intelligent life form in Illinois politics that can fix it
Following assessor’s policy of using comparable sales to determine tax-assessment valuations for properties, then logically Kaegi would be compelled to utilize recent downtown office building sales, even if realized sale-price was drastically-lower than prior comps used for previous reassessments. Kaegi finds himself in a difficult predicament. If assessment valuations previously dramatically increased to reflect recent sale comps, then new assessment valuations must reflect dramatically decreased new sale comps. Oops.
Won’t be difficult for Fritz. He will follow the Marxist path like the good little Party member that he is.
Raised in Hyde Park, lives in Oak Park, next stop Gorky Park.