-- 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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And commute you shall, while the residence you abandoned is given to some one that could never afford it, the taxes on it ( now mysteriously lower) or the upkeep of it, all the in the name of equity. And you will continue to feed the behemoth with the taxes on your wages if you still choose to work in Chicago.
You voted for him.
If, at this point, they are uncertain, they are the exact type of idiots that democrats love. Too stupid to get out of the way of a speeding train.
That’s ok a head tax will also probably be back.