-- 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
“That means the old valuation was really way too low,” he said. “One of the facts about Cook County, sadly for the past years if not decades, is that the property valuations have been so bad – they were so out of whack, the values – that as the new assessor is trying to correct them, sometimes it results in really big changes in the value.” As someone who used to live in Will County and took it up the shorts with property taxes before I left Silly-nois, I say GOOD, It’s about time Cook County started paying their fair… Read more »
Smart move. Home ownership in Cook County and Illinois is not an investment, it’s a lifelong obligation to feed pigs!
Leave chicago and cook county- you will be thankful!
Rent-to-own is a scam. Looks like she dodged a bullet.