-- 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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Again, more taxpayer cream for people that receive free milk.
Maybe they can fund it with all the tax revenue it generates?
Seems a bit tone deaf coming from the guy that sets the assessments which essentially form the basis of the amount of tax owed
Maybe the county should cut spending and live within their means, like the taxpayers. I resent the fact that Cook county appropriated money for illegal immigrants instead of helping US citizens. .
Right on Deb. “It’s not just a spending problem—it’s a deliberate distraction. This is nothing more than gaslighting to pacify the masses while the city edges closer to collapse, which seems to be the real endgame.”
I make more than spit and live in a decent area of Cook County, so I’m left out of any PT reform plan. These PT rates are draconian for all of us, Fritz.
I’m SHOCKED to learn that an incompetent progressive screwed up everyone’s taxes. How could this happen?
A taxpayer bailout to cover high taxes. Got it.