-- 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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More taxes for the Chicago voters…cool!
Somebody should perform a statistical evaluation of the relationship between taxes increasing and people relocating. Obviously, there’s a positive correlation here.
Also, it seems like Chicago, by frequently increasing taxes and user fees, has a target goal for its population to be much lower than 2.9 million people. Is 29,000 the goal? No, that’s too low. How many city workers are there?
Rosemont entertainment complex, here we come!