-- 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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I would like to take my property tax bill and put it were the sun don’t shine up your you know what Springfield
Put your property tax bill in the fridge, it’s the only food you can afford
Now that Amazon, Ebay and other online vendors are charging sales tax where is the windfall of tax receipts going? Probably not to lower property taxes because, after all, this is Illinois.
those tax receipts are probably going towards taking out more debt, because… Illinois
Illinois debt is out of control and it should be getting daily coverage on the front page, not in the editorial section.
Mike, that’s part of why we exist here. The front page headline almost every day should be that Illinois is still broke and getting broker.
Realistically what can we as citizens really do? The deck is stacked against us in it’s present form. Almost impossible to vote them out-political maps drawn ensures they stay in power- at least 50% running unopposed/etc. On the back of the property tax bill it states partial payments will not be accepted and check will be returned. Think of it. Every bill you pay in the real world (auto-mortgage-credit cards-utilities/etc) even the IRS will take partial payments of course with some penalties but property tax’s NO. They can not even be negotiated. Either pay or home will go to a… Read more »
There is nothing you can do. The state has more Democrats than Republicans. Many middle class Republican families have left Illinois in the last 20 years. They have been mostly replaced by immigrants, foreigners and illegal immigrants, which is why we’ve had a slight population decline and not a precipitous drop. The foreigners vote Democrat, always and forever. The progressives have taken advantage of this because they are not really Democrats (as AOC said, she and Biden should not be in the same political party), but they are at least able to run candidates within the Democratic primary structure, and… Read more »
Thank you for the detailed and informative explanation. Question. If the Speaker steps down or retires (from some FBI probe or health reasons) could the replacement be worse? If I’m not mistaken there were at least 5,000 bills left to die in some committee somewhere that he alone decides which one advances to the next level. How many of those bills could have helped Illinois? If the next speaker would allow future bills to be presented that may help our situation. Too much power was given to one man and if that power were curtailed is there still hope for… Read more »
Madigan will be replaced with a progressive, probably a crazy nutjob too, given that the TDS will be strong after November 2020 when Trump wins the presidency again and he starts spending his political capital. None of those bills in committee are designed to help our situation. They are all the nutjob progressive bills that are too far to the left even for Madigan. Madigan is mostly responsible for destroying the state, for sure, but the progressives will burn it to the ground in the process of reforming the very situation they alone, and yes, they alone, created over the… Read more »
Those commenters that think thru the situation, which is apparent from the comments themselves, almost all seem to arrive at the same conclusion. If you desire fair treatment, you must leave Illinois because there is no reason for hope. The situation will only deteriorate as time passes.