-- 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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Number one priority in DuPage is public safety? Assuming this isn’t posturing on the part of Deb, it just illustrates the trash that’s moved into the suburbs.
Good for them grabbing it when they could. Not the least bit surprising the tax was partly created to cover pensions. And the financially inept legislators are actually considering increasing Tier 2 benefits?
‘Transportation tax’ used to fund courts & police…?
Makes perfect sense in (D) land…
This article apparently was posted on 10/28, so it doesn’t tell us what’s in the actual law passed on 10/31. But it is interesting to know that “RTA” sales tax money in DuPage is mainly spent on cops and roads.
DuPage went into the toilet when Democrats took over, how typical..