-- 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 you look at home prices many homes are affordable but the property tax’s are not. Here in Rockford in approx 23 years you pay in tax’s what you paid for the home originally. So tax’s are more than 1.3 times the mortgage over 30 years. Compared to Colorado my tax rate is 7 times higher. But remember the Rockford casino will solve all our problems. Yeah right!!
Whatever problems the Rockford casino is supposed to solve, the Beloit casino will exacerbate.
Absolutely right! The Beloit casino($400M) complex will cover about 73 acres with full family amenities. The Rockford casino after years of wrangling will end up in someone’s basement. Check out the RRSTAR.com about all the in fighting with Winnebago county chairman (Frank Haney) and the board members. Legal fees all over the place with taxpayers probably paying for them.