-- 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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Illinois roads and bridges are not so good. Lots of money but poor roads. Someone is getting rich and it is not the taxpayer.
Vote no mileage tax. JB wants electric vehicles, but never considered that electric vehicles don’t pay gas tax.
So that means you need a mileage tax instead of a gas tax. Thanks for making that case.
If only it would be a mileage tax instead of a gas tax. In tax-friendly Illinois, it may very well be both.
Illinois will probably do both and still be broke thanks the huge excessive pensions paid at very young ages to the worthless public sector.