-- 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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Preckwinkle ‘s solution will be to hire 6 more family members as advisors making $150K a year. There, fixed it.
I have an idea. Let’s bring back the soda tax! let’s increase the county’s share of the real estate tax too. Yes, and let’s put it towards pension and hospital expansion for people who pay little to no taxes at all. That’s cook county. They know you’re stuck so they’ll keep taxing you!
AOC Occasionally Cortex says none of us should go back to work! A fundamental change to society. Maybe Preckwinkle should jump right onto this great progressive idea! Nobody work, sit at home, don’t spend any money except on your SNAP card. Maybe that will help raise more money for the county? I just realized that the last time I filled up my car with gas was on March 2nd and it’s still 3/4 full! Haven’t paid much gas tax, am I doing ok AOC?