-- 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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This is still just scratching the surface! I used to be in real estate. The number of people claiming owner occupied is staggering. I’ve seen married couples put their names on separate properties, when they’re living together, to get the homeowner’s exemption on two properties. I even tried to bust a couple that SCAMMED over 20K this way back in 2010 and county refused to initiate an audit when presented with evidence. There is no way to enforce this stuff if the county is still running a DOS operating system and I think the penalty is civil.
Crooked Corrupt Cook County Is Making Property Owners Pay For The County’s Mistakes