-- 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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It’s not a question of if, only a question of when Chicago goes bankrupt.
Perhaps Stacey Davis-Gates can get the HQ a homeowner’s exemption like she did for her home in Indiana, that was not her primary residence.
Crazy Stacy knows a thing or two about property taxes in IL and IN.
They sure are handy with their demands. Yet when parents demand accountability, the police are called to disband the meeting and the issue is quickly pivoted away from.
Taxes for the but not for me.
Why does the union need a $19.4 mil building? I never realized how high the taxes are on non-residential property. Over 5%!
why do unions need-want anything??
Easy-Rip the toilets outs!!!