-- 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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Lol, you had to know this was coming- right? Sure, sure…$855M to “set the stage”…right, right. This is the obligatory public tax payer scam that goes with every single Illinois government project or pROgram. Gotsta have a way of stealing tax payer money and a smooth way or laundering the funds, this is totally predictable. A trillion here and trillion there…soon, we will be talking about real money… The gutless state government will give them the money – of course – but none of the tax payers will agree. The Illinois tax payer is tapped out and this should be… Read more »
Shut up and pay your taxes. Taxpayers in Illinois were put on earth to be screwed.
Yep, the only way that gets fixed for anyone is to vote with your feet.
and so it starts
If the Fire’s owner can build a new stadium with his own money, why can’t the Bears and Sox do the same?
Greed
Pound sand, move Bears and take your mediocre team that is still crowing about winning the Super Bowl in 1985 with you. Overtaxed IL residents will do just fine without you.
No, no and no again.