-- 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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Another sad day for all of Illinois, so many times are governor has said during his daily updates on the coronavirus this is not a time for politics, it’s about saving lives. But yet today this governor, if that’s what he really is took the time to promote his progressive income tax. So many people Are out of work for the foreseeable future, families losing homes, people struggling to survive, and businesses going bankrupt. But yet this rich slob took the time to tell people it’s time to raise taxes, damit this man is Either a total idiot or just… Read more »
“Gov. J.B. Pritzker on Wednesday projected a $2.7 billion shortfall in revenues for the state’s current budget year, and a $4.6 billion shortfall in the state’s next budget year from the revenues in the budget proposal he presented in February, which would widen to $7.4 billion with short term borrowing and if voters don’t approve his proposal for a graduated-rate income tax in November, Pritzker said.” – From today’s trib Left unsaid, of course, is whether or not the unfair tax projections are based on prior year income estimates, or have been adjusted to reflect our new reality that there… Read more »