-- 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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Illinois OMB = Fun with Numbers!!
Governor’s Office of Management & Budget Accountability-GOOMBA.
Where is the button to report racist comments? Oh, I guess since the slur is anti-Italian it’s not racist?
Don’t get your knickers in a twist. It’s not an ethnic slur, it’s an observation on the fact they come up with ridiculous names that are the opposite of the function these offices actually perform.
Hmmmm. If only we knew that Fatso’s budget/ revenue projections were all imaginary in the first place: https://wirepoints.org/wondering-how-illinois-projected-3-2-billion-budget-deficit-disappeared-wirepoints-quickpoint/ Thank you again, Wirepoints. I mean, I guess it would be nice if we could be wrong, and Illinois started governing itself properly. If only Illinois did not have an inherently abusive political culture, and if only the state’s property tax system were not literally set up to enrich collateral interests (tax appeal lawyers – can anybody say Madigan – plus the mortgage foreclosure “investors” highlighted in another of today’s story). But we all know Wirepoints is not wrong. The momentum toward… Read more »
Article in Daily Herald. Rep. Crespo loses committee chair because he doesn’t want to see taxes raised and wants cuts in government. So, Welch punishes him for sticking up for taxpayers by basically removing him from any influence.
I’m a broken record. SC revenue $535 million ahead of projections just in 1st quarter. Increased revenues due to corporate taxes and sales tax revenues. Teacher salaries raised statewide and income tax getting lowered yearly until disappearing in about 5 years. Increase in new businesses and job growth, low unemployment. Due to Trump? Not really, just better government management which does not exist in IL, land of excessive government unions and growth only in government, not private sector.
Wally you sure about those figures? South Carolina’s new tax cuts are only for the poorest and lowest-income residents – no judgment if that includes you but last I heard Governor McMaster was projecting a $290,000,000 shortfall due to the ‘22 cuts. Sounds to me like business as usual down there. Nothing wrong with it, but nothing aspirational either.
Don’t know where you get your figures, but McMaster sees a $1.8 billion surplus 2025-2026 according to WLTX Channel 19 and the state of the union budget figures. Google “SC revenue shortfall?” When was last time IL had a budget surplus of even $1?
“pausing a transfer of sales tax revenue from motor fuel sales to the road fund” – Wait a minute, our roads won’t be safe if you do this. Doesn’t the safe roads act prohibit this?
No money to illegals in any form solves this problem. But the DEMS do not want to alienate a key component of their voting base.
As long as we are governed “democratically” and as voters are ignorant or self-interested, we’ll continue to face these problems. These voters include not only CTU members but Social Security recipients and veterans and those better-off folks who oppose wealth- and graduated income taxes. Nor is it primarily economic as seen with sanctuary cities and birth control. With most people, voting is the only self-protection they have on matters of great individual or family or neighborhood significance. So, we spend and polarize ourselves into gridlock and corruption. Now and then, public outrage intervenes but we’re still waiting for it to… Read more »
The Autopen-in-chief blamed President Trump for four years and got away with it will generous help from the useless legacy media. Why would Andy Lessthana-Manar do anything else?
Surplus state employee and future six-figure state pensioner Andy Manar can’t possibly criticize his fellow political animals for their profligate spending, even after the chumbolones found their confiscated tax dollars ending up in political-animal-aligned NGOs by the millions.
Manar should man up and take responsibility for his administration’s incompetence.
Pritzker and IL Democrats keep defying federal laws, so there will be a price to pay for their lawless petulance. I don’t believe they really care how much pain citizen taxpayers face because of them.
Newest team line for Democrats failed programs…”Its Trumps fault.”
I blame climate change
That’s their old line.
Raise taxes and chase out more high-income earners and job creators. This is a debt death spiral mainly caused by a huge pension debt. What is going on in unsustainable at this level.
LOL!!!!!!!!!!!!!!!!!! Really Andy? Your revenue estimates were inflated smoke and mirrors BS anyway.
In addition to Stratten, Waddles has a Deputy Governor? Nah, IL government isn’t a fat, bloated, money sucking mess.
Babbling idiots bear no responsibility for the dire financial situation Illinois has been in for years. Oh wait, let’s blame President Trump!
Can’t blame Trump for this one Fat Boy. You and the liberal morons like you are chasing tax payers and business out of Illinois. The revenue isn’t less…it is just produced elsewhere.
no deck chairs left to rearrange
on the JB Titanic?