-- 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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“Others, however, would view low per capita figures as missed opportunities for revenue growth, and subsequent program spending.” “Ralph Martire, executive director of the nonpartisan Center for Tax and Budget Accountability, said the report also “artificially inflates” the state’s corporate income tax because it includes the personal property replacement tax collections, which go to municipalities.” Ralphie ‘We can’t be taxed enough’ Martire is back. He calls his NGO ‘non-partisan’. However, Ralphie, true to form, continues his apology tour for Illinois’ free-spending leftists. Illinois is broke and Ralphie’s refrain is always ‘we need to tax and spend more!’. Always. His allegiance… Read more »
Ralf is paid by the corrupt public unions to spew this nonsense. I can’t wait for the inevitable education cuts when the ship sinks.
Illinois and Chicago both pay some of the highest prices for some of the worse services.
Because all along the line there are many hands out to make sure that they snatch a piece for their private rainy day funds. It’s not enough that there are too many people in the chain of command making too much money, they also have to grab a little extra. The hundreds of fraudulent PPP loans taken out by CHI/ Cook County employees are evidence of that.