-- 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 know how and why that a Fair Tax for middle income people will save me money. My license plates went up 50%/gas tax’s doubled and 20 more tax’s were raised plus my property tax’s went up. So how will the gov explain that and will anyone in the media ask him that? So anyone who is not familiar with Wirepoints is mostly clueless to what is going on. The only way I would vote for it is if they lower property tax’s to 1% like Indiana and I want my money back from overpayments to a financial abyss… Read more »