-- Connecting the dots between our economy, government and business --
Comment: Just imagine all the press like this and ribbon cutting ceremonies Pritzker will be getting out that obscenely oversized $45 billion capital spending program, paid for mostly with regressive new taxes.
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
ISU Master Plan 2010-2030, page 17: “Although not yet released, state funds were appropriated in FY2010 for the creation of a new Fine Arts Complex.”
What happened to the 2010 dollars for this project? Maybe I don’t understand how govt budgets and appropriations work, but it seems like the same public works projects come up in the state budget year after year after year. Do projects not yet started just carryover yearly until the funding actually shows up? Why appropriate money for a project if the money isn’t there?
https://masterplan.illinoisstate.edu/downloads/Master%20Plan%202010-2030%20Final.pdf
Yep, that’s how it works in IL. Keep abusing the taxpayer; then, use that money to take credit for many projects, whether or not they’re needed.
Priztker, yes you that money $62 million would have gone a long way to fund eduction in Illinois. Except no jabba the great you gave it to your well connected friends and wife. You are a disgusting piece of crap.