-- 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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Squeeze every last penny
Not sure it is clear even to the people on these threads just how desperate for money the city and state are. It looks to me like the federal lending facility for state and municipal governments is the bailout plan. I could be wrong and if Trump were to win, limits might be placed on the states and cities but neither a Trump victory nor enforcement of any loan limits appear likely. There are 750-790,000 public employees in the state. There used to be about 6 million private sector employees in the state to support them and their pensions but… Read more »
Groot wants the late, great Chicago to devolve into a cheap hick speed trap.
Considering Cabanban makes $103,680 per year, getting rid of her position would put the city in much better financial shape.
I love high taxes, I love bad Weather, I love big government.
Lower the speed limits to 25 MPH every where so you can issue more tickets.
Huge Pensions will be paid for with this money.
Go For it and see if people do not just leave.
In 2023, have you considered running for Mayor of Chicago? ?
If I won I could be the King of the Schitty of Chicago.
The permanent victim class will not pay. Nothing will happen.
You can become mayor and make them pay. The next election is coming up soon in 2023. ?
I always thought that it was illegal for scumbum mayors to create speed traps just to raise revenue.
If anyone thinks that I am wrong about this, I would suggest that they look at the history of “speed traps” here in “The State of Intoxication” and else ware.
Is it just anything goes now?
— This is exactly the kind of predatory ticketing that hits poor and minorty drivers the mosts, driving them into a cycle of never ending debt. https://features.propublica.org/driven-into-debt/chicago-ticket-debt-bankruptcy/ — Lightfoot’s revenue tool box has only tool — screw drivers with tickets/fines/fees/tax hikes. Driving has been the lifeline for Chicago tranportation, as transit is a virus hazard (and violent transit crime has spiked). Why is Lightfoot punishing drivers for that? — Lightfoot just announced a big campaign to encourage visitors to Chicago — visitors that will be crucial to any COVID economic recovery (“Lightfoot’s ‘authenticity’ to be center of plan to re-brand… Read more »
I noted the idea that perhaps we should “scale” ticket fines…based on the “ability to pay,” of course. As our culture and society continues to punish achievement and merit, we will get the results we want: low or no achievement, victim ideology over all else and a society in which everyone whines about what others have. Very little of substance will get done, and everyone will be miserable. This is what happens when we let the professional scolds (progressives) take over every aspect of our lives. I guess “meritocracy” is now a dirty word. Try not to think about China,… Read more »
It has become a new religion, progressives worship at the altar of “victims”. Those who disagree must be punished as heretics. Hard to believe that we have descended to this.
Progressive=Socialist=Communist…
No?
The history of the 20th century shows that is the sequence, unless someone stops them at Socialist, as the U.S. did to the National Socialists. There is nobody in the world who can bail out the U.S. if we continue down the progressive path.