-- Connecting the dots between our economy, government and business --
State lawmakers in the Illinois House Revenue and Finance Committee may or may not come up with an official revenue estimate to include in the budgeting process for the spending plan that begins this summer. But committee leaders from both sides of the aisle want to give appropriations committees a solid revenue estimate for the coming budget.
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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