-- 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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Isn’t a forgiven loan considered taxable income by the IRS? Wasn’t an overlooked forgiven loan on the Clinton tax return the reason Vince Foster was murde…, er…committed suicide. Will the grifters whose $10,000 loans are forgiven be shown even further favoritism when they can’t pay the additional $2,500 they owe in taxes?