-- 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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The bond markets and bond raters like to shake us down too. By rewarding government with ratings based on how well they can screw over taxpayers. Raters even encourage higher taxes over lunch with the governor.
Looking out for taxpayers isn’t the job of the rating agencies. Their job is to tell lenders the likelihood of getting the money they’ve been promised
The Illinois Government has always rolled out the red carpet to encourage members of the “Free State Army” to move here. Then, by throwing them taxpayer paid handouts, they insure themselves of getting their votes come election day. Nothing new here…move along.
they shake down the middle class like they are an unlimited ATM and then wonder why people are leaving this crap state with its crap weather, crap politicians, crap schools, crap crime rate crap crap crap crap crap!
Yep, relocating out of state is the only solution. If you’re goofy enough to stay, you’ll be complaining three years from now when things are worse, or worse yet, you won’t be complaining because you’re ignorant or “comfortably numb.”
“Predatory” is the perfect description of Illinois government and the public sector unions
High taxes are a necessary component of a progressive utopia. Because Orange Man Bad!