-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
The only way Pritzker would consider any type of real relief on the exorbitant Illinois gasoline taxes would be if he started to feel uncomfortable about his re-election. He loves keeping the unions happy with capital projects galore.
I think that at the last possible moment JB will lower gas taxes or plate fees or some tax if he deems it necessary to ensure his reelection. Voters for the most part have a very short memory. This would be done close to the election. If he lowers plate fees by say $25 people will think he is saving them money even though the fees would still be up 25%. It’s like pols say I WAS going to raise taxes by 20% but will only raise them 10% so I just saved you 10%. Anything is possible to get… Read more »