-- 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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Although I do enjoy an occasional walk in a forest preserve , I don’t think I want lake county to purchase more swamp and unusable land . The districts should be looking to user fees, daily and yearly. Then those who peddle , paddle and walk in these district/ government properties could start paying their fair share . Its time to stop saddling property owners with all the bills.
Agree. These government entities are getting out of control. They got used to all that free COVID money (which was OUR money and not really free) and now they want to keep the gravy train rolling. Hope the vast majority of people vote NO.