-- 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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How?….here’s how:
as soon as JB gets his tribute, retirees will be next in the crosshairs for taxation, AND all the middle class will be teed up for another tax increase as soon as he can do this on a simple majority vote. Why can’t some “reporter” ask him how a $1.4 Billion tax increase will compensate for a 6 or 7 Billion (unconstitutional) deficit.
THAT’S HOW!
complete stupidity…IL is already number 1 over taxes state in the USA..enough is enough. bankruptcy is the answer !