-- 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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$.20 cents savings today….you are going to drive to save 2 or $3.00 on a fill up? You’ll burn that much gas on the round trip. Maybe you should move to Wisconsin. I hear that housing is cheap in Madison. ha ha
You are so right. If I live in Rockton, IL and travel to Beloit, WI I can save about 45 cents a gallon. That’s a 10 minute drive there and 10 minutes back. So I can spend 20 minutes and save $6.75 on a 15 gallon fill up. My time is worth more than saving 20 bucks an hour. That’s if you live in a border town which means most people can’t save that money anyway after you factor in fuel costs and additional time. Our state lawmakers know that the border towns won’t significantly skew the tax collection and… Read more »
I’m from the Rockford area, north about 15 miles and close, very close, to Wisconsin. Thank the Lord as I can get gas after a 5 minute ride and save on an average of 50-90 cents a gallon. The amount saved adds up over the weeks and probably puts $400-$500 extra in my pocket yearly. The annual Illinois gas tax has no sunset provision, goes on forever and according to Pritzger and his party has no effect on the middle class, no effect on working people, doesn’t contribute to inflation. This simply shows that Pritzger and the democrats are so… Read more »
Two thumbs down from the total membership of the Pritzger fan club, including JB himself.
Also 5.5% sales tax vs 8.75% in Rockford. Plus Kwik Trip Fuel has real good take out food and has all kinds of specials if you order ahead like 10-30 cent off gas sometimes more with only a $10 or $15 purchase.