-- Connecting the dots between our economy, government and business --
These bills have become the proverbial coal in our stocking when they should be coming when it’s still warm and sunny.
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
Delay your payment and see what happens.
Vote out Preckwinkle and crew for incompetence.
Merry Christmas to all of the taxpayers. This year’s taxes compared next year will look like a sale price. Taxes will be increased every year for ever. The pension liability numbers are clear and cannot be stopped anytime soon.