-- 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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Mark or Ted- Off topic but important. Are you aware of this?
https://www.yahoo.com/news/city-demands-thousands-chicago-police-195200334.html
We are posting it.Thanks.
They will primary her at the next election.
and not a dem machine pol would dare bring up who’s going to have to be taxed up the wazoo or how many cuts will have to be made when all the COVID $bucks$ are gone….delusional
I was at a bar this weekend with some friends and an unabashed progressive said, “Say what you want about J.B’s progressive, agenda, but you can’t deny he’s fiscally conservative!” And I just laughed and said you can’t really believe the BS you spew, this was the largest budget in the state’s history!
I suspect that Mendoza will be the first IL Dem to fully break from the far left that now runs the state, and brand herself as what was a traditional Dem. She has always been a bit of a maverick. She has a brother who is a Chicago cop so she surely gets a regular earful of common sense perspective about how insane things have become.
Is this the future of cannabis tax revenue in Illinois in the near future?
https://www.yahoo.com/finance/news/colorado-booming-weed-market-went-110000414.html
This will also happen to casino tax revenue in a few years. Read some of the comments in the link I provided above. Not too much discretionary money flying around with much higher property taxes and increased insurance premiums.