-- 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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Gas, cigarettes, gambling, pot… Wow the lower economic classes and elderly are finally going to be paying their “fair share” too!
Years ago i had a senior citizen neighbor who lost his home to gambling. Does the new gambling bill offer any protections to addicted gamblers?? Or do any of the ‘wheres mine’ crowd care? Or maybe gambling addiction can be covered in pritzkers expanded mental health spending? Or maybe pritzker can offer all the addicted gamblers (and me) free pot after they loose everything they got to pay for six figure pensions they’ll never have….
Does anyone have a list of any reforms whatsoever in this budget like pension reform/property tax reform/redistricting/school consolidation/reducing prescription drug prices/curbing healthcare prices/pension management fees/late pay fees of 1% per month reduced to prime rate/addressing lifetime healthcare costs for those who opted out of Medicare or any meaningful reforms that would put more money in my pocket this year? This list would be very very short. These reforms would have helped the majority of citizens and make it more tolerable to live in this state.
Freddy, here’s your list: __.