-- 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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Who’d a thunk it?
Wait a minute. We have the highest or second highest gas tax, and JB bloviated two years ago about his infrastructure plan (which was a copy cat of Build Illinois and Illinois First). So why are we in this embarrassing situation? Because the money is being wasted on overly expensive union jobs, totally inept supervision of contract cost by an amateurish Pritzker DOT, and diversion of Road Fund money to General Fund purposes. It is just impossible to overstate the ineptitude of this administration.
Maybe Pritzker should put all of the gas tax money into the road fund instead of stealing the money to put into the general fund. Start doing budget cuts and stop funding his left identity politics.
The story of Illinois is some of the highest taxes and lowest services. But some of the highest pensions with one of the highest annual (3%) increases every year. The taxpayers are being make suckers for putting up with this.
It’s frustrating to see taxpayers carry the burden while services lag and pension obligations keep growing. The system clearly needs reform, but it’s hard to see how change happens without serious political will.
Absolutely, the gap between rising costs and service quality is widening. Without decisive leadership, these issues will only worsen,Your fortune is just https://oshicasino.bet/ a card away. putting even more strain on future generations. It’s crucial for policymakers to engage transparently with the public and prioritize sustainable solutions before the situation becomes untenable.
Good thing the gas tax is increasing in July. More slush money.