-- Connecting the dots between our economy, government and business --
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The mayor cracked the door open to the mid-year corrections — which most aldermen and municipal finance experts have been expecting — after once again ruling out layoffs, furloughs and program cuts in this extraordinary time of need.
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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Wait?? On one hand she’s extending Coronavirus grants and care to ILLEGAL immigrants that do NOT pay taxes. Then on the other she’s talking about RAISING taxes. If there’s money to pay for a large base that pays NO TAXES then there shouldn’t be ANY tax increase on the backs of people that already carry this tired, broke city and state. This is the reason there’s a MASS EXODUS from Democratic states. Soon all that’ll be left Illinois are the Section 8’rs and the Illegals then who’ll pay taxes?
In answering your question, I would say, “the democrats.” But we know they always end up leaving the mess behind for someone else to clean up.
Chicago, you voted a socialist as your mayor. What did you expect? No sympathy from me. Not one bit.
If you google search Chicago Payroll database you can find out how much every person makes. My old neighbor is “Supervisor of lot cleaning services” and his annual salary is $130,092 dollars. That’s not a skilled profession.
She is way over her head. This is not the time or place for her. Time for a financial control board or emergency manager.
“Draconian” things? Why is the public employee the sacred cow of all things? I get it, I get it — they fund democrats and they have clout. But for crying out loud, at what point do they finally stop kissing the collective behinds of these public employee unions and start looking at businesses and taxpayers who are hurting and fleeing? Well, if it’s “stimulus” you want, give ’em a raise, Lori! Hire some more “diversity coordinators!” How about a “Pandemic Discrimination Office” for that “racial health equity lens” you were talking about? Six figures and full benefits for all of… Read more »
“We do not anticipate any of the draconian things … layoffs, furloughs and so forth.”
However, she’s apparently not opposed to raising taxes and user fees, some of which are already at draconian levels. I shall now coin a new phrase: “selective draconianism.”
If Lightfoot was Capt. Smith of the Titanic she would be saying “we will only use lifeboats as a last resort”. Actually if she was captain of the Lusitania that will sink in 15 minutes she would be saying the same thing.
She’s more like the Captain of the SS Edmund Fitzgerald! Only because I’m drinking that beer right now on my patio.
Watch the trailer on youtube of “The Finest Hours”. I hope Lightfoot knows that the economy is falling apart like that ship in the movie. Or the economy is about to be buried like the youtube vid “The Wave, Tsunami scene 2015”.
Chicago bungalow property taxes are ridiculously low relative to suburban taxes. It’s finally time for Chicago residents to get with the program!
MOST of the bungalows in Chicago are in high crime, low property value areas and with the legalization of marijuana it’s only worse. So when the “suburban” areas are dealing with the same issues then the taxes will be the same. Furthermore, homes in some areas of Chicago are already FAR overvalued so they’re paying taxes that they shouldn’t be paying already.
Of course. The only time that the financially despotic Democrats will ever discuss a budget is if it involves raising taxes. Rinse. Lather. Repeat.
Bankruptcy now is the ONLY solution.