-- 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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Count on them being higher than last year.
If Preckwinkle can’t get the tax bills out in time, fire her for incompetence. Or at least vote her out.
At this point, any of the few of us dopes still paying attention have given up trying to understand if this is simply more CC/Chicago absolute incompetence or just more of the endless 3-card Monty bilking of taxpayers…..you just assume it’s both at astronomical prices and nobody in public sector really cares because they got 100% control.
Illinois was perpetually late with tax bills in the late 1990s and early 2000s. Never seem to be any accountability for paying municipalities late or for constantly increasing the tax burden. This isn’t a new thing – they don’t like tax bills right before elections. They will do this again in 2026 before Jabba is on the ticket, thinking Illinois citizens don’t know their tax bills are among the highest in the country. They are just preparing us now and really think we are idiots. Then again, if JB gets reelected – we are.