-- 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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Remember the new standard deduction for couples is $24,000 without itemizing. Many rarely have more than that by itemizing. My verdict is out till after this tax season is over. My wife and I have never been close to $24K even with $7,000 in property taxes.
Democrats like taxes so this is good news, right!
I believe the legal term is lenta stercore
Sadly, the classics like that have been abandoned.