-- 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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Many Chicagoans and Illinoisans have high thresholds of pain that are currently far from being exceeded before these people move from the city or state. They’ll keep getting beat over the head with higher and higher taxes and fees before moving. Incredibly, some will never move no matter how bad it gets.
Quigley speaks!!! Oh, my. This guy has made a career out of staying under the radar. Rubber stamp Dem. But- now he has a thought. Too late.
That’s cute, Mikey. While we’re at it, let’s skip the RTA Executive Director bailout as well.
“talk of a constitutional convention is still a couple years off.”
Eliminate and make all public unions illegal.
All pensions funds at current levels of funding are distributed to all current members into a 401.
State Pension Obligation – ZERO!
It’s fun to daydream. Time to wake up to reality. None of what you wrote will happen.
I guess the ultra rich and billionaires gave the mayor the bird. Now his turn to doing it to the poor
The Dems never want to cut non essential services because these services are essential to far left progressives. Behaving financially responsible is not in their vocabulary or playbook.
Just like Democrats refuse to reduce crime, but would rather coddle the criminals in the city.
If those are the choices, based on Conehead’s performance so far, the taxpayers are about to have it socked to them.
Always thought Quigley was one of the few common sense Democrats. But why would he want to run for mayor? All the cuts and remedies he proposes would never get by the unions and socialist city council. He’d be a lone voice crying in the wilderness.
There is no connection between Mike Quigley and common sense .
Common sense in that you can’t spend more than you take in. He realizes that though you don’t hear him speaking out against budgets passed by democrats.
Nothing will happen but the raising of taxes. Greed will not end and the need for more money will not end. This has been the pattern now for decades and is not going to stop anytime soon.
Whoa. An IL Dem says the obvious.
Hmmm, looks like Quigley’s been reading him some WP & IPI……now will he be excomunicated from the machine as a heretic?