-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
I want my cola. Wah wah.
Where did all the money go to?
Illinois had $28.5 billion available to pay $254.5 billion worth of bills.
• The outcome was a $226 billion shortfall, which breaks down to a burden of $52,000 per taxpayer.
• This means that each taxpayer would have to pay $52,000 in future taxes for which they would receive no related services or benefits
“Only the little people pay Taxes”
Chicago is broke and they are giving Raises to cops, teachers and firemen so why not give money to Trump?
But as was stated below–Pritzker can get away with taking out toilets to get a tax break–Jag Boy.
No Schitt
Really governor chuckles are you going to dump the person that handled toilet gate, double standards you ????