-- 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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Why would anyone accept JB’s advice to approve a “Fair Tax” when he clearly doesn’t believe the rules for common people have to be followed by the rich elite? He pays his property taxes only after he gets caught cheating, he allows his family to travel between his various mansions (“to feed the animals!) when travel is prohibited for others, and he allows his daughter to participate in out-of-state sports when this luxury is denied to commoners. Not only that but he avoids most of his Illinois income taxes by hiding his income in a Caribbean Trust. Needless to say,… Read more »