-- 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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Let’s go further. Why are we letting all those people fly into O Hare, and drive into our state on our tollways get off scot free? Why aren’t we taxing the salaries of those consultants, lawyers, salespeople, conventioneers? They didn’t build this city or state. All those miscreants that live in Indiana, Iowa, Wisconsin, Kentucky and Missouri who cross the border to work all the high paying jobs the Illinois private sector has created should pay tax to Illinois…..right?