-- 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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NOT ONE PENNY to that ignorant fool. As a current resident (counting down the days), I may suffer the impact of the belt-tightening of municipal services, wait… Other than police and fire (heroes) folks, and maybe the guy who cleans the streets, I GET PRETTY MUCH NOTHING from the place I live… Kids go/went to private schools…
Bankruptcy… BRING IT ON. They deserve it – and I will then be in some better run state (49 options on that one – well, 48 – Cali is a literal heap of ash and human refuse).
The “man” who wanted to cut the local budget by $330,000.00 when he removed the toilets from his mansion for a fraudulent tax break is warning of budget cuts??
Illinois was a mess prior to the coronavirus event. He is waging the fat Fingers saying gimme gimme. It is using an issue to save your large behind.
This governor is so off based he makes me ill, massive cuts, thousands of jobs, public services in jeopardy. Governor stop your scare tactics, cut 5% from budget of 43 billion dollars, last time I did my math that comes out to 2.15 billions dollars. So if your budget was out of balance by 5 billions dollars or so why not cut 10% off the top instead Now your saving 4.3 billions dollars and close to a balanced budget. All it is is scare tactics to get his progressive tax passed don’t fall for this seniors of Illinois you hold… Read more »
Too little too late Mr Governor. State & local budgets should have been cut in March, when you shut down private businesses you deemed non-essential. Non-essential public sector jobs should have been canned at the same time, like many were in the private sector. But not one job cut or furlough that I know off in my city, Palos Heights, so issuing car stickers, and preparing the swimming pool for a short opening period were considered essential jobs? I have a bridge to sell you. You cannot cry wolf now and plead for a bailout from taxpayers like me. What… Read more »