-- 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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By increasing taxing, real-estate/property tax is the third rail, your pay more it just won’t be called that. Congestion tax and legalized prostitution opps sex workers is next so services will be taxed next as well.
By increasing your property tax bill….that’s how.
They can’t pay for it, but the taxpayers will pay for it.
Now that Pedro Martinez knows that he is being shown the door he should just hold firm and do the right thing-eliminate the 7,000 positions that were funded with CoVid dollars (sorry, those were one-time only funds, you’re time is up), consolidate local schools so that no school is less than 50% full, and hold firm on teachers evaluations.
Simple as a second grade math exam that most CTU and IEA activists couldn’t pass:
They can’t.