-- 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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Johnny-come-lately
Wirepoints came to this conclusion much earlier and reported it a number of times. However, there’s some good in other legitimate news organizations reporting on the horror show.
The savings on the chart is laughable but not funny. To be fair and be fully informed there should be another chart next to it with ALL the tax increases that same family is paying for now. That family probably has 2 cars $101 in license plates increase-19 cents in gas tax’s probably a few hundred more per year-increases in property tax’s-increases in sales tax plus at least 18 more tax’s that were increased. How is that family going to save by voting for the progressive? Side by side charts comparisons. What a novel idea but never to be seen… Read more »