-- 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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Chicago is becoming Pottersvile.
They aren’t called “ one-armed bandits “ without reason. Wake up players, you’re getting fleeced again by a government that’s already fleecing you at tax time.
Illinois loves to encourage its citizens to participate in regressive activities, so it can generate massive tax revenue for questionable uses. Never mind citizens are being corrupted. Too bad this isn’t the 60s when so many people smoked. The gambling commercials on TV remind me of the cigarette commercials that encouraged smoklng. It’s all good except for the loss of income and cancer!
Gotta feed all of those illegal aliens!