-- Connecting the dots between our economy, government and business --
"Illinoisans and the businesses that have set up shop here can’t be tapped every single time the math doesn’t add up."
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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Congratulations Gov Pritzker for perpetuating a long standing Democrat tradition of never submitting a honest, balanced budget! Way to go!
Tax hikes are what will happen 100% for sure. Spending cuts Zero chance never happens.
Pension increases 100% for sure, pension reform Zero chance.
Illinois is on the express lane to economic disaster and speeding as fast as it can go.
This is why we save our money and invest wisely. The government will always be greedy, but luckily those of us who work hard will always be two steps ahead of their plan. My husband and I just bought a fourth rental property, for example, but paid for it all cash. (not literally paper money lol!)
JFC lady, enough with the lectures. Not all of us have buying-four-properties money.
It’s not a lecture. She’s not telling you what to do. There are plenty of us that figured out how to make it work for ourselves. It’s called life.
Look out what you do. Never forget the two states with growth are Florida and Texas, both have zero income taxes and fair property taxes. Illinois can only get away with so much before people decide enough is enough.
But when is enough
Obviously giant SALT cap increase of $30gs (some articles are reporting as high as $80gs cap increase) /tax break for the well to do that reps are about to shamelessly cave on as part of their “one big beautiful bill” will provide political cover in about one second for Illinois machine to push for graduated or millionaires income tax increase. Maybe throw in some kinda tax on services as well. All of course with NO reform of prop taxes, 9,000 units of gov etc, etc…….look out below cumbalones, as once again your going to get played big time!!!!!!