-- 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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Oh this is too funny. I love the new taxes list. I wholeheartedly agree with imposing those taxes and more, especially taxing retirement income. It doesn’t get any better than that. If that happens I cannot tell you how happy that will make me. The enjoyment I will get from watching you slaves scurry around like roaches on a griddle will be immense. Your “pensions are sacred” leeches will be screaming bloody murder and you neighboring states will thank you. So if your entire body is totally engulfed in fire, do you wait to die from the fire or do… Read more »
OK, these cost-cutting ideas sound good, but how many will be implemented? As we’ve known for many years, Dems are much better with and more comfortable with creating or raising taxes and fees than cutting costs.
As the debts pile up at city & CPS—Once again, I’m astounded no pol, Alderman, Civic Fed, anyone one in press, etc is demanding an accounting from city on what NEW permanent spending, hires, pay raises, etc are currently being funded by the various fed COVID funds that taxpayers are now going to be asked to continue funding as the COVID $bucks$ dry up?