-- 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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See what Detroit’s mayor has to say about potential recovery of major cities that overtax:
https://www.michigancapitolconfidential.com/analysis/duggan-you-cant-build-a-new-house-in-detroit-due-to-high-taxes?utm_campaign=CapCon%20Weekly&utm_medium=email&_hsmi=261823676&_hsenc=p2ANqtz-9ZyrazgLxjQqFgNJuxu9_AE1UOk_ZoxL-2bj8giJyIr13idFWmJm_QbaQheVF4oPWk3YV82SQBwr48ER4nR6xwssVPug&utm_content=261823676&utm_source=hs_email
Felix,
Old Joe used to work in Detroit area housing construction while in college in the 70s. I can vouch from visits back home that Ferndale has built more new homes in the past 3 years than the entire City of Detroit even though it’s only about 4 square miles in area. What Democratic Party governance can destroy is mind boggling.
Also, there’s no comparison between Ferndale and Ann Arbor.
sshhh: we shouldn’t tell too many people about Ann Arbor. The lines at Zingermans are already too long.
I went to a Detroit publlic high school that had TWO Latin teachers and full-spectrum STEM and liberal arts programs. Not to mention summer jobs cleaning the mounted police horse stables at Rouge Park.
Speramus meliora; resurget cineribus … Maybe. Someday.
This is the IL Democrat playbook — hike taxes high as you can — steal all you can — repeat
Dems in Illinois are one trick ponies – Raise All Taxes Again and Again.
Dems own Illinois and Chicago’s fiscal problems.
Glad I voted with my feet over 20 years and left this Dem controlled corrupt cesspool of a state!!