-- 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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Another case of isolation for thee but not for me.
https://www.stltoday.com/lifestyles/health-med-fit/coronavirus/altons-mayor-told-police-to-crack-down-on-stay-at-home-violators-they-cited-his/article_df7975fb-8d44-5db1-af64-d852e86861fb.html
I would like to see most property tax’s cancelled except for fire and police portion. What are we paying for and more important getting in return? We can’t go to parks so take that off my tax bill. E-learning only so we eliminate most if not all school administration/non-essential school employees and on and on. We are still responsible for all school contracts which include total pension pickups and healthcare premiums which here in Rockford is about $21K per person. Public retirees are still getting 3% compounded. What are we getting in our meager savings? Zero!! My wife and I… Read more »
Not all retirees who held municipal, or county jobs get compounded pension bumps. State retirees for the most part do. Remember most public service workers lose at minimum 60% of their Social Security benefits automatically.
Governor it’s up to you to cancel all summer festivals, if I stand correct you need to sign a executive order declaring this. All the local municipalities and villages, towns have signed agreements. Most likely they have clauses that if someone backs out they are responsible for paying booked entertainment etc. I’m not under any circumstances a fan of yours, but I do agree with you on this one. If these festivals we’re allowed to go on and people started getting infected again it could lead to a multitude of lawsuits against local municipalities and towns, those consequences could be… Read more »
They will not be paying for the booked entertainment. At the beginning of this large hotel groups were rebooking and later used a term that enabled them to not charge their customers. Can you also imagine the social media blasting if they did? This will be a huge loss to our state in business travel as well as revenue. There would be lawsuits regradless, however try proving you contacted the virus while at an event. That burden is on the plaintiff. JB has yet to detail who his modelers and scientists are. A question that our media never asks. Even… Read more »