-- 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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With all the federal money streaming into Illinois for infrastructure, you think the king would remove the gas tax, reduce the vehicle registration back to 101.00 dollars and the other host of taxes that are earmarked from Illinois taxpayers to make things more bearable during this pandemic, but know the great steal is on and the sheep huddle in there coral. Except for a few Illinois voters the majority just don’t give a damn it should be all hands on deck, but no all it equals is all hands out for freebies
Illinois policy is steal all of it! Leave nothing. TNB.