-- 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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When taxes go up, they also tax away the equity in your home. It is a double whammy. Expect more of the same, the State does not have the change of a nickel, it needs more money and the way it gets it is through taxes.
What a disgusting comment, Your taxes going up is a good thing”. The rising value of your home means nothing until the day you sell. Until then the value used to calculate taxes is a scam to squeeze homeowners to death for programs they don’t want, for projects they don’t want or need, for services they probably never use. Stop spending except for the necessary services that benefit all and not aimed at specialized groups that are a small segment of the population. Stop spending, stop wasting. Governments must live on a budget like we peons do.