-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
a gas tax dosen’t fit in with jb’s progressive stichk. it’s a regressive tax hitting middle to low income hardest
That’ll cause more IL residents to move out of state. Why don’t the IL pols care that IL continues to lead the nation in outward migration? Obviously, this dubious distinction isn’t good for IL.
If anyone doubts that Illinois will royally screw the taxpayers to please their union masters, just look at the proposal to index the gas tax to inflation. The Democrats want to assure their greedy union masters an endless stream of taxpayer cash
In Illinois these capital projects use prevailing wage and union work rules. Wisconsin can build three miles of road for every one mile of ours. Road projects in Illinois also get milked for years on end. Not to mention all the lawyers around Illinois infrastructure projects eating at the trough, this gas tax is will be totally wasted.
great observations
Why should anyone expect the state that is so famous for misusing taxpayer money to properly manage extra tax revenue?