-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Meanwhile, Joliet just approved a 500K gift to the Rialto ( for the +/- 20th year in a row), 200K for a history museum no one visits and 3.5M to renovate a library on the far west side because the one downtown was recently updated.
think twice for rockford’s real estate bill and it will be higher again for taxes paid this year. the mayor lies. he wastes money everyday. he ok’s projects that get tax incentives. there are free programs here – but not for the taxpayer. if the federal government turns off the faucet the city will be in an even bigger mess. we have high crime every day. lousy schools. the mayor has a program that gives college tuition away free. many graduate that can’t read or do math at grade level. the kids are being cheated and the taxpayers are being… Read more »