-- 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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Cook County! Keep voting dumbocrat you fools!
Property taxes go up on others when they are reduced for some. For one example, 1431 N. Astor Chicago (https://www.cookcountyassessor.com/pin/17031030070000) was awarded a property tax assessment reduction for 2015 and 2016, AND a backward assessment reduction for 2012, 2013, 2104,called COE (certificate of error). This resulted in Hundreds of Thousand of dollars given to the owner of that property by Chicago. BUT: that Hundreds of Thousands of money that the owners of 1431 Astor Chicago property were given still had to be paid to schools, school pensions, and early retirement health insurance premium entitlements, not just for schools but also… Read more »
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