-- 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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Wirepoints, if you were serious about getting folks to the polls, why not post a calendar and addresses?
How many people actually know the details of the referendum trying to get passed. In Rockford the last time the city tried to pass the home rule it was defeated by having lots of opposition. They were reminding people when Rockford had home rule decades ago how many taxes were raised without any voter approval. Also with increases in sales tax it is promoted by the city to get necessary repairs like I believe in Freeport where they would use the money to repair roads. But no one asked where is all the money going with the increase in gas… Read more »