-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
more and more…protect vote rich Chicago from tax increases–seek and obtain “help from Springfield”–IL/CHI broke (almost all taxes goes to lavish public sector pensions-medical)….therefore who ends up paying for “help from Springfield”—passive suburbanites. This move to state funding for vote rich CHI will only accelerate, at suburbanite expense.
Hmm, I need property tax payment assistance.