-- 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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When will we get property tax assistance? Anything over the average of approx 1.25% of total value show be refunded from purchase date. People are getting student loan reductions so why not property tax? In Rockford taxes were over 5% now around 4%. I just checked some new homes that were built 1 to 2 years ago. The assessed value is $369M to 379K. Taxes are—- Are you sitting down? $14K to just over $15,000.Bet these new owners are on oxygen now. I will soon be in the process of getting my home to market. We are now in the… Read more »