-- 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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If the federal government can jack up the cost of living, why shouldn’t Chicago hop on the gravy train and ride it straight into your wallet? Let’s slap on even more taxes, sprinkle in a dash of moral superiority, and rebrand it as ‘visionary leadership.’ Who needs fiscal responsibility when we’ve got an endless supply of taxpayers to bleed dry? It’s almost inspiring—like a dystopian carnival where the prize for sticking around is the privilege of being taxed into oblivion. Step right up, folks, the fun never ends
Trump is also responsible for the teen takeovers, the cement cracks in the Obama Center, high gas prices in Chicago, Mayor Johnsons budget debacle and Gov Pritzkers inability to produce a balanced budget.
Taxes, therefore taxes? Give me a break.