-- 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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If Illinois is getting $4B from the feds that was not expected then Illinois should reduce license plate fees and gas taxes immediately by $4B.
Cook/County/Chicago roadways will be paved in gold, everywhere else gravel
Lol, good one
There is currently a bridge being worked on in DuPage County that is probably less than 10 years old. It is a small bridge over a stream. That bridge was in beautiful condition. They’re redoing it. This is the kind of garbage that occurs when large infrastructure bills get approved and billions get distributed. We’re still pissing away money from Biden’s last infrastructure bill, and here comes 4 billion more. This is nothing more than the fleecing of hardworking Americans.
In Europe there are roads built by the ancient Romans which are still in use today!
Impossible. The IRS didn’t exist then.
Ex,
when you export all the manufacturing jobs, it is important to engineer roads and bridges to last only so long as we are still going to need jobs. The last bridge was over engineered that’s all.
We’ll have the best roads that nobody can afford to drive on!
In other words, a union construction giveaway. In a few years, when the state is in a severe depression, and there are homeless everywhere, your union-strong neighbor will buy a new boat, with the money he earned repaving perfectly good roads and park it in his driveway for everyone to see. Lookie here, look what I bought
It stinks that these union guys have money to buy things like boats. They should be poor and beg to merely exist. The nerve of these people.
It stinks to high heaven that the unions bribe politicians to pass boondoggles like this so connected, privileged union workers can fleece the tax payer for the ‘prevailing wage’ which again is just a made up number designed to pay unionized workers on government contracts the maximum amount of money. It’s a big scam.