-- 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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What I do not agree with is that if a hospital gives away free medical care equal to what they would pay in property taxes that they should be tax exempt as stated in paragraph 4 as part of the conditions. First of all the value of medical care usually given in the E.R. is quite expensive and overpriced compared to pricing in walk in clinics which do pay property taxes in many cases. Many who seek care use the E.R. as their primary doctors especially those without insurance. By that same reasoning what if my charitable donations and they… Read more »