-- 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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I was in the Cabelas in Hoffman Estates. A customer in front of me had a shopping cart with a bunch of merchandise in it. He loaded it up to be scanned and then a case of lead bullets appeared, 1000 lead bullets only to be used for reloading. Apparently this customer wasn’t from the Cook County area. The cashier rang everything up and the told the customer that there was a .05 cent a round “tax” on the bullets and that would be $50.00. The guy was speechless and just told her to forget it and walked out the… Read more »
When it was built about 15 years ago they were given millions of dollars in tax incentives which could have amounted to $18 million in it’s first 10 years. That’s why they built there. I’m sure when future Bass Pro / Cabelas are built they look at how local laws will affect their bottom line, but it’s tough to see 10 – 20 years down the road.