-- 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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Maybe if the TIF dollars were devoted to pensions…ahhh never happen
How much money is diverted from the school districts via TIF’S? Does anyone have a $$$ amount from all the tif’s in Illinois? If the purpose of a Tif is to reallocate tax dollars to blighted areas to raise overall property values thus raising property taxes on existing properties because they are not getting the full tax dollars how that that benefit taxpayers. TIF’s are simply political slush funds for the pols to use how they see fit. Now add in the tax increases in cities within PTELL counties which increases the tax rate for all the abatement’s and tax… Read more »
TIFs are a new way that some animals are more equal than others..