-- 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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“Property tax snafu?” More a political ploy to hide the property tax increases prior to the mid-term elections.
In other states property taxes are collected the year incurred – imagine that! Paying the 2022 taxes in 2022! Instead this year we’re paying the final installment on the 2021 taxes on December 30, 2022.
In other IL counties taxes were paid this past summer.
“Property tax snafu” … I don’t think so.
Stupid chickens.
Wow, who would have known that Chicago had $500,000,000 just lying around?