-- 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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The reasoning for raising property taxes is asinine; shove-it in the overflowing bad management bin.
An incompetent or useless city government creates and nurtures its problems. Fueling high inflation is destructive.
That’s absolutely amateurish, linking to the CPI is a gamble. Although not likely it could decrease. It should be related to something that is guaranteed to perpetually increase. Like Chicago Crime!