-- 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 will sum that article up in a few words…”We need a tax hike”
2. “The State has done admirable work stabilizing its fiscal situation inherited from years of unsustainable budget and tax practices.” That statement is a little out of touch with reality, and yes, water is a little wet.
Does the Civic Federation day drink? Is it a requirement?
Reading their report, we can see that Illinois is a fairly unattractive place to live and do business, especially when compared to other, better managed states. The CF report authors even go so far as to say that Illinois has an inordinately high tax burden, also compared to other, better managed states.
The CF’s solution? Trim the budget? Eliminate duplicative layers and lawyers of government?
Nope.
They want to raise taxes even more. Thanks for nothing, day drinkers of the Civic Federation.
Democrats can start by cutting spending on identity politics, new committees and other wasteful spending, before raising taxes.
Democrats don’t modernize, they only set up corrupt systems to steal money.
Willie Sutton robbed banks “because that’s where the money is”.
Democrats run for office because that’s where the money is.