-- 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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What about TOTALLY eliminating the school portion of your property tax bill for those 62 and over? That would cut my bill by approx 60%. How many seniors use the public school system yet are required to pay forever? In and around the Atlanta region up to 100% of your school portion (depending on the county and city your are in) is eliminated. That would keep many seniors in their homes and possibly giving us the incentive from NOT moving out of state.