-- 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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At least in the three highest you get the benefit of pleasant winters.
Higher taxes mean lower equity in your home. The taxman taxes away your equity. Public Sector Pensions must be paid first.
Denver one of the lowest baby!!
Glad I made a smart financial decision and left Taxistan over 20 years ago.
My bank account is $250,000 larger now!!