-- 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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Just read in the Rockford Register Star that with a stroke of a pen Rockford added 2,400 residents. The city annexed 2 large apartment complexes with 1,200 apartments away from Cherry Valley requested by the owners who are based out of Michigan. Now Rockford has to provide police/ fire and ambulance. They will also collect much more in tax’s and the increase of residents means they will be counted in the new census which means more money from the state This in general is low income housing and a high crime complex according to many. Many shootings in the news… Read more »