-- 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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Percentage increases like that seem to suggest that the long-awaited acceleration into the ground has begun. Anyone care to wager on the over/under on the lag between IL’s accelerating decline and the mass exodus of CPT (Citizens who Pay Taxes?)
Pritzger’s ilk seem hell-bent on being kings of a cesspit.
The Board of Review run things. They have the final say. The assessor is nothing more that the board of reviews bumbling administrative assistant.