-- 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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Perhaps Champaign should just put the tax back on and collect it directly?
Same people paying the same tax.
There’s a lot of valid complaints about taxes in Illinois but this is just whining.
CITIES SHOULD START FILING FOR BANKRUPTCY
Hoo boy. Will “tax revolt” now trend?
They will just take your home and think nothing of it. The WEF wants you to own nothing but are lying about you being happy.