-- 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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US Congressman Bill Foster is either a liar or stupid, or both. A husb/wife making $80,000 gets a vastly improved fed inc tax cut saving them almost $2,000 even tho they can’t deduct $4k ILL inc and $x prop tax, because the new standard deduction is $24,000 for them, and the fed inc tax calc on $56,000 is much lower than previously.
Sickening how dishonest or stupid the Democrats are. And besides, if ILL + prop tax would go DOWN the husb & wife would save by that amount.