-- 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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Frightening thought is what other not adjusted for inflation tax’s are in the pipeline. Gas tax is #1 how many more?
the same way that a t**d improves the flavor of what’s in the punch bowl
Wow, this writer is naïve.
1. The gas tax hike will help to contribute to the state’s continuing population decline. How does that “help (the) state’s future”?
2. “Here, finally, is an example of a problem being identified and a solution presented.” A regressive tax that adversely affects lower-income drivers and families more than others is not a solution.
This doubling of the gas tax was a harebrained idea. It’s amazing that it was signed into law, but, then again, looking at the many poor decisions IL pols have made over many years, maybe not.