-- 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 don’t understand why the mayor is still a Defor years now and now he’s wondering how to fill the gap from eliminating the grocery tax. When will he realize the only time the governor comes to Rockford is to get votes. Then once he gets the votes he is rarely here. He will be hear when the casino opens later this year because of all the tax revenue that will go Springfield and very little to Rockford.
Tommy, Michigan doesn’t tax groceries and they still have fire and police departments.
Rockfords municipal pensions are too generous. There, I fixed it for you.
Let’s be clear, Boss Pritzker had nothing against the grocery tax. In fact, he hasn’t met a tax on the common man he didn’t love. What really hacked him off was that he didn’t control the funds generated by the tax. So now he’s punishing local governments. The man truly is a tool.