-- 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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another example of democrat’s favorite phrase – “Only we can fix the problems we alone created.”
Yes, it’s time for another “Wow.” So, instead of IL lowering everyone’s property taxes by reducing bloated salaries, pensions, and health care benefits, individual taxing bodies like Cook County are allowing seniors to get loans to pay their taxes. This is another example of how IL and its taxing bodies are going all out to stop the continued abuse of the taxpayer.