-- 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 article states that the board of elections is appointed by the cook county circuit court, and independent from the city. While legally true, we all know that Toni preckwinkle controls both baby Brandon and Timmy Evans. She is the puppet master. She is using all the tools in her power to push this tax increase, which will only accelerate losses for anyone foolish enough to still own property in this once great city. Following in Detroit’s footsteps is her goal here, all controlled by one race.
It looks like Chicago wants at least two swings against the judge’s ruling in this case. With all the lawyers fees involved in these appeals wouldn’t it be simpler to go the 1st Ward route and slip the judge an envelope to reconsider his ruling?