-- 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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Providing one taxpayer a break makes the other taxpayers have to pay more. Giving nursing homes an additional tax break makes the whole populace pay more in taxes creating basically more taxes for welfare benefits. Should ir be determined Medicaid reimbursements be increased then do it the normal way via budgets and tax hikes if needed and not a back room hidden tax hike. Better yet additional funding should be take from the migrant spending.