-- 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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Shed unwanted pounds! Feel younger! Make millions at home! His promises are nothing short of the second coming.
Yesterday JB was touting that the gas tax increase is where it should be if adjusted for inflation. By that same reasoning he should re-adjust (DOWNWARD) all the union contracts that received ABOVE the rate of inflation for the last few decades which is far more what the private sector got. How many private sector people lost jobs and homes during the downturn while schools/fire/police etc received raises- pension spikes- bonuses-almost free healthcare or took no cuts whatsoever. Did you hear of any school closings in that timeframe? What is fair is fair!!
I thick the underlying subtex is threatening–if you dont vote to pass progressive graduated tax then expect ever more regressive taxation..and forget about any cost cuts, we own it, not going to happen…thats what being sold
Hahahaahha, I feel the yellow trickle on my leg, and no one believes it’s raining.