-- 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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“The new formula equitably distributes new state dollars each year, prioritizing the state’s most underfunded school districts.”
Harvey, E. St Louis, E. Dubuque and Island Lake and Chicago can raise their real estate taxes if they want to have better schools. It’s best they leave their hands out of my pocket. Nothing, yes nothing, is stopped the local school boards from raising taxes to pay for better schools.
Put the blame where needed.