-- 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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What is the percentage of total taxes collected vs what the city or town gets to keep? The city should keep ALL the taxes to help the local community and not be forced to send the majority into the abyss called Springfield. Same for any city with a casino. The town should keep all the proceeds except for the taxes owed on winnings.
The drug money has to go to the peoples most affected by drug use in their communities and said peoples that have had trouble with the law previously should get priority to sell it to their drug plagued communities. IL at its finest.