-- 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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Rent will increase, vacancies will increase and real estate sales will decrease. Government spending will increase based on “assumed” tax revenues. When you tax more you always get less.
AND TEACHERS WILL KEEP ON VOTING IN THESE LOSERS WHO MEET THEIR DUMB DEMANDS…….VICIOUS CIRCLE TIME TO MOVE
You bet he’s going to give all the dough to the ctu.