-- 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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Highest taxes and have to go even higher. Still do not have the change of a nickel, flat A$$ broke. Pensions are eating up more and more of the budget every year and it will keep increasing for generations. People are fleeing in record numbers and could not be happier to leave. The only good jobs left are in the public sector, the private sector is going elsewhere in record numbers.
Fees are too high in Illinois, too. Look at the recent, giant increase in highway tolls.
The increase in tolls is just another way to tax suburban taxpayers to support Chicago.
But according to union grifter PPF there is plenty of headroom to keep raising taxes even higher in Chicago/Taxistan!!