-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
When’s the last year the title of this article wasn’t applicable?
2021, though even then they should have been looking ahead.
Be prepared General assembly leeches. You will only be allowed to steal what you did last year. No more. If you want to steal more, you will have to talk to your local mafia or union master.
There’s a $3.1 BILLION DOLLAR budget deficit? For real? The state was swimming in more money ever during COVID, passed the largest budget in the history of the State, and STILL has a $3.1 Billion Dollar deficit? This is just insanity. Keep voting Democrat people, just keep voting Democrat!
That’s because a whole passel of social service giveaways were created with the vid money and now will be supported by the taxpayers after the power drunken spending spree of Federal money ends. People like Thumbs Down are counting on that.
Don’t forget all the tax increases JB has graciously given us without our scrutiny and approval from day one in office. Billions upon billions then more billions from the feds and there still is a huge deficit. Do any of our pols know math or took math classes in school?