-- Connecting the dots between our economy, government and business --
"I'm sure there's going to be lots of opposition, but there's going to be lots of proponents. You've had this double-digit inflation for the last five years, and taxpayers or property owners have got to have some relief,” said state Rep. Brad Halbrook. “My view is if an agency or a unit of government has not tried to cut any expenses ever or recently, they need to dig in and find some spots that they can cut some expenses somewhere.”
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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How about eliminating unnecessary units of government? That would be a great start, but it will never happen in crooked Illinois.
Republicans in this state should concentrate ALL their efforts and prioritize passing this freeze. Use this point as the basis to help reorganize the party. Freezing taxes should not be controversial. Leave all social issues until you have regained some power and have political capital to spend. Together we stand, Divided we fall.
In your dreams.