-- 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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2nd highest taxes and some of the worse roads and bridges. Such a deal.
Even if Illinois had the highest gas taxes in the country, it wouldn’t be enough. You could triple the current gas taxes and it wouldn’t be enough. Like any organized crime syndicate, Illinois democrats cannot steal enough to satiate their greed. The great mistake people make is that they think taxes are paying for some service. The vast majority of tax money (Some 85% based upon a recent Kiplinger letter publication) goes to pay for government itself (i.e salaries, wages, benefits and pensions). All you taxes do is keep the government’s vast patronage army fat and happy) When you think… Read more »
For those of you who can’t leave the state for economic reasons, take a new approach. Cut down on driving as much as you can. Live beneath your means to the point it hurts. Save every penny as if you were saving for a dream vacation. In a few years, you’ll find yourself in a place where moving to a state that is governed in a way more aligned with your values is possible.
This is a point of shame for JB. He wants to be first!!! If gas is expensive enough then deplorables will switch to electric cars and Illinois be a clean, shiny, all electric utopia. And JB will get his Presidential Campaign credit for transforming those dirty farmers into climate change acolytes.
Can’t wait for big boy to slap us upside the head with another gas tax in January. Bet on it .
Well at least we have the 2nd best roads in the union.