-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Ruh Roh. there goes the RTA Executive Directors’ fiscal cliff money…
Well I read today that Pritzker is giving 231 million to a foreign company for plant expansion for producing assorted Illinois green energy things that is creating no jobs in East Alton. Perhaps Pritzker could claw that back to help out his funding issue
“… either have to cut spending, increase taxes, or both.” Luckily, we’ll get to vote again on the progressive income tax. If passed, the increased tax revenue from the affluent will help stabilize the budget without adversely affecting the middle class. (I’m already crafting the language for the upcoming, Dem-sponsored commercials.) Unfortunately, there are way too many people in Illinois who will be gullible enough to take these commercials at face value and vote for this progressive income tax. Last time the tax was up for a vote, there were far too many people who voted for it, even though… Read more »
“…many residents packing?” I believe you meant “many MORE residents packing.”
Whatever has befallen our once great state? Oh, yeah, that’s right – SINGLE PARTY rule.
And still no ACFR??? What a scam!
And still nobody questioning it on a regular basis or pursuing it in the courts, my goodness what are they hiding.
They’re either intentionally hiding something or are so incompetent they’ve lost track of where all the COVID “free stuff” $bucks$ went….or probably both
Who in their right mind down votes this comment?
One stupid chicken!
Maybe if Pritzker had actually earned his billion dollars by doing actual work and starting and growing a business and making it successful he would understand economics.
Ken Griffing EARNED his billions, Pritzker is just a lotto winner who thinks he earned his money.
Born at home plate believing he hit a home run.
Cook county voters, WAKE UP!
Stop voting for these greedy incompetent politicians!
So Bluto overestimated the anticipated revenue to take a victory lap and falls short..again.
Sucks when the Fed isn’t bailing you out (covid) eh JB?
Budget estimates, now that’s funny. Until the cash fairy shows up the budget estimates are just a joke