-- 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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Hundreds of thousands of acres and lets not forget with the pensions and soaring taxes these people don’t have to pay on the market value of their ground like the law was originally written. isn’t it nice that the Illinois citizens subsidize, via lower taxes, foreign buyers, large corporate such as Bill gates and the Drake family among others getting off while the pensions need paid.
For those who are against any prohibition on land purchase by non-Americans, try to purchase farm land in China and let us know how that worked out for you.
The U.S. is NOT for sale.