-- 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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We all know this election was fixed. Ballot harvesting and early voting by mail. Mr. Vallas won the original election before this stupid run-off process. We all know 2020 was fixed likewise. Who stopped the count on Election night? The grift will continue for 2024. The cheat system is in place. Mr Trump will never get near the Whitehouse again, ever….. Most will be fooled again that a contest will take place between Mr Biden & Mr DeSantis. Tons of money and effort, backed by a corrupt media and establishment will make us all believe we will have a free… Read more »
Commercial Real Estate is the next shoe to drop.
Spot on Fullbladder. Illinois real estate will become a financial hot potato. Nobody is gonna want to get stuck holding it. The reason everyone is selling is the flip side of why nobody will buy it.
The Chitty is Bankrupt. The overly generous pensions are unsustainable. No chance in hell this will keep on. All the tax money in the world is not enough to pay the bills. Over 80% of taxes will go to fund pensions. Taxes will double every 5 years for 50 or more years in the future. The only way out is to get out.