-- 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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Is Pritzker proposing to cut spending or proposed state spending. A good example I have seen, not only in Illinois, is for a politician to issue a proposed budget that includes increases in education for example. Then later on there is a promise if something isn’t done education funding will be cut even though it is only the proposed increases being cut almost if it was planned that way…but they wouldn’t plan it that way…would they?
Well, they need to get their story straight on that. Pritzker says he will slash social service spending if the tax doesn’t pass but his point guy on the Fair Tax is saying they would raise the income tax on everybody instead.
This is Jelly Belly’s abuse of power. IMPEACH.