-- 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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Too many sucking the funds at the top. No money for infrastructure. When things fall apart we will just raise the fees. One reason our roads are not being fixed is because the tax money is being siphoned off by public transportation. Let them pay the full bill for the services and see how much longer they are in business.
Of course people with cars furnished by taxpayers are going to be in favor of a 30-cent hike in the gas tax and a 50 percent hike in registration fees. Soak taxpayers at the pump, and soak taxpayers who furnish the vehicles.