-- 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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Transparency from the Happy Warrior is akin to an intelligent statement from Mayor Raggedy or Kwame investigating corruption. Never gonna happen.
Illinois House Republicans demand. Has a more feckless and feeble phrase ever been uttered by a political animal?
Note to Illinois’ Republicans: You have been Gerrymandered into irrelevancy. You seem to not notice.
This should be interesting. The State is going to be in debt some $3 billion+ next year and even more following years. No way will people approve of new taxes. Rich Miller – Capitolfax asked his readers two days ago whether they would approve of cuts or more taxes. Even that very liberal audience voted 72% for reductions in the budget. WOW, that says something. So where is JB going to cut. He could give ‘his people’ aka illegal aliens more money or he can cut education and other services that the liberal love. This is where the feces hits… Read more »
With Illinois already being the overall highest tax burden in the nation there is very little room to raise taxes, even more so with on going bad inflation. Cuts are all that are left. Keep in mind JB also knows that if he raises taxes any amount that people take notice of that he has no chance of being president. Massive education cuts will be forced in time. That will be before the pensions inevitably crash and burn. The Cap Fax poll is very telling. If even those people want cuts then it is game over.