-- 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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The people of Champaign County say NO to this new tax. NO!
Quite a blurb on why higher taxes are needed by Democrat elected Sherriff Heuerman. He names new hiring programs in the mental health area and unspecified spending in the existing bureaucracy. This is followed by a “fear factor” of cutting Deputy Sherriff positions. Quite possibly these positions were caused by those seemingly “quiet grants” that provide temporary funding that, when expired, allow local politicians to proclaim that more taxes are needed to prevent cuts of positions that were not needed to begin with save the “use or lose” previous grant. Democrats always have answers to created crisis’s meaning more taxes… Read more »