-- 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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What was the Lotto for?
Funny stuff. Although I would agree that the state should be providing more assistance to school districts, it’s shown that no Illinois pol can be trusted with additional funds. How about spending reform first, than we’ll talk tax structure change. Vote no to this non-sensical graduated income tax until this state actually “shows” it can get its house in order. Which most of us know won’t happen until it’s too late. Come on Fritz. I’m sure you even agree with me here. The state, county and school districts get plenty of funds. They just choose to spend it on work… Read more »
So water is wet. An Illinois politician tells us that more taxes will be good. Good for him and his pension. Good for his fellow politicians inability to reduce spoending and costs (and their pensions). Bad for the taxpayers of Illinois.
Very old wine in different bottles- why do people keep believing the same nonsense?