-- 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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5% pay increase the gall of you Springfield mafia, people in Illinois are suffering from high taxes for decades , property tax bills that just came out are more then likely to cause some people to lose there homes and you give yourselves another pay raise. Again, property tax reform but there is not one politician in Springfield that can figure out this mess, and as for the feckless Republicans just leave the party and turn democrat because your all spineless traitors. It’s time for the taxpayers in Illinois to decide if you so called politicians get a pay raise… Read more »
Clearly the Republican party in IL has too few truly commonly held beliefs. Is it any wonder they have no power at the moment?
They have no power at the moment because of their own accord and actions