-- 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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It’s starting. Voters-taxpayers-municipalities will be held hostage unless progressive tax is approved. The next in line will be that the lower class and lower middle class will be targeted in ads before Nov that if they vote for the tax they will receive “enticements” in school funding-benefits/etc while the rich will pay “More”. That segment is a large voting block probably very uninformed about the real truth. Everyone will eventually pay more in higher costs of goods and services if passed.