-- Connecting the dots between our economy, government and business --
He said in his statement, “For more times than I care to count, the Democrat majority and, disapprovingly, many Republicans have voted to pass legislation that raised taxes, increased spending, and created more regulation. It is to Illinois a death by a thousand legislative cuts.”
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
A common sense move by an intelligent person. A friend of mine just sold a house for $700k in the south suburbs– at a half million dollar loss. Has a $26k property tax bill. He bought a new house in Tennessee for $500k with the same square footage with a property tax bill of $1,200– per year not per month. So if you figure on a 20 year life in the same size house, that new house probably pays for itself and is basically free to him. Is that the “weather”? Or is that the “science”.