-- 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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Vote Preckwinkle out. She needs to fund all of cook county, and not just tax suburbs to fund Chicago. She he doesn’t acknowledge that the suburbs are part of cook county.
Taxwinkle knows why, but Taxwinkle ain’t sayin’.
“It is a riddle, wrapped in a mystery, inside an enigma”.
When finally mailed, they will contain large increases. The Cook County population hasn’t increased much since the 1990’s but property tax payers have been reduced over that time. The County needs a truly independent audit to identify the all the properties in default and the real amount of unpaid debt.
“For some reason this happens more frequently in Cook County than anywhere” says the expert. Oh, for Christ’s sake, it’s Cook County and its run by Preckwinkle, dummy.