-- 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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Of course it will be over budget. When is any Illinois social giveaway program within budget?
Only one pertinent question: were ILCS Statutes complied with or not? (50 ILCS 330/1) (from Ch. 85, par. 801) Sec. 1. Title of Act. This Act may be cited as the Illinois Municipal Budget Law. (Source: P.A. 86-1475.) (50 ILCS 330/3) (from Ch. 85, par. 803) Sec. 3. The governing body of each municipality of this State, coming within the provisions of this Act, shall, within or before the first quarter of each fiscal year, adopt a combined annual budget and appropriation ordinance, by which ordinance the governing body may appropriate such sum or sums of money as may be deemed necessary to defray all necessary… Read more »
By bus, train, plane or boat – SEND THEM BACK TO WHERE THEY WERE BORN.
Slam that border shut!
That’s a solution I want to see my tax dollars support.
You are dreaming! Its not going to happen, so we’ll have to come to terms with all that means going forward.
With people leaving Illinois as they are the plan is these people replace the empty holes so that Illinois can continue to pledge its large number of electoral votes for the Democrats.
Pugsley already pulled some fake budget numbers out of his grimy asshole, to cover the predictable budget crater from illegal alien health care. What’s he gonna did this time
Illinois taxpayer subsidies for migrant health care could run over budget this fall, some warn
Correction to title of article: Illinois taxpayer cost for ILLEGAL ALIENS health care……
Spot on. Public Charges to increase….