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.
Susana Mendoza’s mendacity typifies the Illinois entrenched political class. She correctly claims that Illinois obligations have been reduced a small bit but fails to mention that massive infusions of cash courtesy of Uncle Fed are responsible for this improvement. The cash spigot has been throttled back. Mendoza considers this ‘vanilla’ budget to be balanced even though it ‘requires’ around $1 billion in tax hikes on Illinois businesses. She also claims that these business tax hikes will miraculously skip over the middle-class taxpayers. What an amazing achievement. It is also a bold-faced lie. Businesses pay taxes not from cash beamed into… Read more »
She lies as she smiles at you, this type of politician is very dangerous.
Never turn your back to her.