-- 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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These idiots couldn’t craft an honest budget before the covid pandemic, does anybody think they can create a budget now?
Do you think JB has the guts to include a “temporary” tax hike through December that becomes permanent if the fair tax fails? Seems like any tax hike during such a crisis would be a very bad idea politically, but it would make his fair tax proposal more appealing. I wouldn’t put it past him. That lockbox amendment for transportation funds is looking like a pretty bad idea now. JB should cut back on his $40B capital plan and temporarily divert the revenues from doubling the gas tax to the general fund. But I don’t think he can because of… Read more »
Bye bye miss American pie Illinois drove the Chevy to the levy but the levy was dry.