-- 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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I like how Illinois is used as an example of what not to do. (As well it should be)
The dems north and south will love the tax whip on their money..That is why they will vote for the new tax..They voted for fat boy be cause grandpa did.I had two tell me that they only vote dem because their family did.when in breaks and il can not go on.Call a cop for a murder in the street,no body will show up.
I’ve noticed that, too. Far too many have sat back oblivious to the fact that their party has been taken over by its most fringe elements. Classical liberalism is dead and gone, yet too few even realize it.
I’m not sure the progressive tax will pass. Last time the people voted to amend the constitution for the constitutional convention it failed miserably. Even the most bleeding heart liberals I knew thought that giving Springfield the opportunity to mess with the constitution would only make things worse. I think the progressives who drink the kool-aid, all of whom live in a bubble and read capitol fax, sure they’ll vote for it. But the rest of us, we know better. That’s why I’m not so sure it will pass.