-- 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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The state just went through a couple of its best financial years after the progressive income tax was defeated. The voters and market have spoken.
Raise taxes and lose taxpayers by the tens of thousands. So many people are on the borderline of getting out, this will push them over. Soon only low-income private sector workers and Super HIgh Paid public sector workers will be left. This is a recipe for a shit show.
You forgot gang bangers and illegal aliens.