-- 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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I see that Oak Park’s budget is $172 million. The grocery tax would be less than 1% of that. Surely there are $1.5 mil in cuts they could make instead of adding the tax, especially being next to a food desert and knowing so many from Austin buying groceries in Oak Park. Friends there tell me that despite being in Cook County which has its own Health Dept for Oak Park residents, that Oak Park has a bloated health dept. and they have a new $100k+ DEI director (what does such a person do all day in a town so… Read more »
Replacement tax……….what’s that? A tax on illegal aliens?