-- 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 only tax directly affecting consumers is the increase in the gas tax, but they’re so used to fluctuations in gas prices, they’ll barely notice. Taxes on businesses will affect them, but not in ways they’ll notice. Usual sneaky way for Dems to raise taxes.
Remember this as Butterworth sloshes around the state begging to be re-elected and sweats butter attending another money losing state fair this fall.
Expect more business to leave the state and take with them lots of jobs.
Not really. It’s Illinois. July 1st just bend over. It’s like fireworks on the 4th. Expected