-- 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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Illinois has multiple layers of gas taxes. There’s the motor fuel excise tax, a prepaid state sales tax and underground environmental fee. Some local governments also tack on their own taxes: motorists in Cook County pay an added motor fuel tax and sales tax.
https://www.illinoispolicy.org/2nd-pritzker-gas-tax-hike-this-year-to-hit-illinois-drivers-july-1/
Well, at least we’ve got the 2nd best roads in the country to so for it!