-- 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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Wow, I was getting concerned. A few hours passed without my reading about an Illinois governmental entity wanting to raise taxes.
There is no solution to the problem. The Dems screwed it all up through greed, corruption, malfeasance, negligence and giving free stuff to every illegal, couch dweller and grifter that checked enough boxes. The long term outlook is not good. People can’t afford to live in that sh!thole city, and businesses will defect ASAP if their taxes are raised in a significant way. The Democrat Clown Show ruined everything!
Great news! Now double or triple the assessments on those commercial properties. I’m sure the owners won’t look elsewhere for properties and take their employees with them. After all what more could a business owner want than to have a building in Cook County where they can get fleeced at the demorats whims while at the same time receiving absolutely no benefit in return.
Taxwinkle is smart enough not to run her game on the much more lucrative business community. When they pack up and leave, it’s a much bigger gap to fill than lowly homeowners.
Here comes the fire sale of commercial property in Crook County…