-- 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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When your state is in the worst financial condition in the country, everything you do is taxed or over-taxed; so, the phrase “sin tax” has no meaning anymore. The more the craziness continues, the more people will relocate out of state. Yet, there are still many people in IL who don’t acknowledge this relationship.
Best thing to do is buy a used tow truck and attach your auto to it. You can then park anywhere for free. This way everyone will think the car is being towed and will leave you alone. Remember to keep flashers on!!