-- 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
Does anyone even read sun-times editorials? Hahahaha print media trying to adapt to a digital age, and still, few even care.
“Should Illinois close its public universities? Should it slash state aid to public schools, abandoning school districts for poor kids that have little property wealth to tax?”
Um, we’re spending over $3B per year on higher ed. How exactly would some cuts shut down the entire system? And there will be no abandoning poor school districts. Rather, the state would abandon the suburban school entirely (they’re already dangerously close), thereby enraging voters already spending well over $10,000 in property taxes.
“nobody is seriously arguing that the extra $3.4 billion in revenue would solve all the state’s financial problems, certainly not in short order. The point is to move in the right direction…”
“Move” LOL. They’re admitting this is just the start and that all rates will be raised immediately after passage. Can’t believe they printed that. Way to tip your hand, CFL.
Can anybody point me to who is on the Sun-Times editorial board? Who writes their editorials?
Mark–these are the folk st list as thier editorial board (seem like lightweights?). But this piece seems like it could have been writen by miller or cfl itself..back in 2017 when new ‘coalition’ took over st they promised a firewall between editorial writers and cfl. Who knows,,artical seems aimed at you, wp, ipi, and the few of us–why are they so concerned if tax is such a great idea??
https://chicago.suntimes.com/editorials
Classic FUD strategy. Also, I seem to recall reading once that Boss Mike has a sizable interest in the CST. Any truth to that?
Miller is far more skillful, far more clever. This article is pathetic on so many levels.
Miller’s writing style is passive-aggressive. If you’re the type to toe the company line and thus already inclined to buy what he’s indirectly selling, he can be persuasive.