-- 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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Wasn’t the Tollway originally created in the 70s to pay for the project to create a new highway? With the plan for tollbooths to go away as soon as its paid for? Just another reminder that once they tax ya in Illinois they don’t cut back ever.
And we also told to believe in Santa Claus, the Easter Bunny and the Tooth Fairy. Once a tax or fee is imposed it ain’t never going away.
As usual, the Tribune gets it all wrong. It is not due to the pandemic but rather the illegal shutdown and suspension of the Constitution (federal and state) by Pritzker and other domestic enemies of the United States.