-- 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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Talk is cheap but only way is to cut spending, 10% across the board those that need make the case to take it from someone else. Eliminate townships and merge small school districts in close proximity. NOT an option mandatory merge these two school districts
Way too late, the horse is already out of the barn. Huge pension shortfall means rising taxes for many years to come. Cut pensions if you want to cut taxes and that will never happen. In fact, pensions are going up not down. If you want a cut in taxes, you have to move to another state as millions have before you.
That’s what the voters want. Stop hating on the will of the voters.
Couldn’t agree more Dan, but did anyone else listen…or care?