-- 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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Naperville now charging 1% on family and senior groceries. Their spending is out of control
What this means is that family will have to come up with $120 in the last six months of the year to replace the lost revenue. So $10/month of savings (which no one will notice) will require $20/month of additional taxes in the second half of 2026. And, it’s likely that the $20 per month will stay in place going forward, thus doubling the amount of collected revenue after six months. Absurd.
They didn’t miss it. They realized the lower income population without transportation would be footing the bill. And it really isn’t fair. Cut the wasteful spending to get the job done