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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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“Pritzker said Wednesday. “……. We’re on a great trajectory from a fiscal perspective.”” Wouldn’t you love to listen to Pritzker have to fit all the money that Illinois’ owes, doesn’t have, and has no plan for collecting, into that ‘great fiscal trajectory’ perspective of his? Just watch how the Dem’s will dance accounting angels on the heads of pins to explain how they’ve decided to continue to provide Illinois taxpayer funded medical care to illegal aliens. Without ‘unbalancing’ a budget that’s a billion dollars (at least) short of what Dem’s set aside for sanctuary state funded illegal alien medical bills.… Read more »
This is remarkable, that State legislators are enabling Statutory override of Township/County Assessor authority without so much as a by-your-leave.
Assessments are assessments of fair market value, by Illinois law. Property owners can then receive exemptions under Illinois law.
This proposed deal sets a precedent that any time a connected, deep-pockets-lobbyist convinces a Springfield self-dealer/legislator to grant ‘special assessment’, no other property owners will have rights of due process.
Remarkable.
Hey, County Chief Assessment Officers, where are you?