-- 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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Shaving over $10,000 off a $13,800 property tax bill? That’s reason enough to move. This state is totally doomed, and it’s the result of politicians who have no money management skills. They are so bad even Enron would not have hired them, they are that bad. I’m hoping to relocate, and I’d do it for less money although that would hurt. I just want stability, not to be constantly worried about how Rahm and Madigan are going to f me with one their last minute tax increases.
We extend a welcoming hand here in Indiana. Fiscally responsible government, 2nd lowest cost of living in America, 1% cap on property taxes and no crooks like Madigan 🙂 lots of jobs too.