-- 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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Well JB-Start with making property taxes more affordable. Property taxes here in Rockford are close to or above the mortgage payment depending on what interest rate you have. It is like having a mortgage for the home and another mortgage for the taxes which has a variable rate (always higher than the year before) to make sure all the taxing bodies get their money.
JB-Why not start a property tax task force? Oh! Right You already have a do nothing one or is it two now.
“ Affordable Housing “ is merely newspeak for taxpayer funded Section 8 housing. With it comes Section 8 problems. Any law enforcement agency that isn’t afraid to speak the truth will tell you that.