-- 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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Continually abusing the taxpayer with unduly high taxes and user fees to pay for inappropriately high salaries, pensions, and health care benefits isn’t progressive. Sorry.
““That may be because he sees demographic trends and political trends in this state moving in that direction, and he wants to get ahead of it,” Mooney said. “It may be because that’s just who he is and that’s what he wants to do and he’s been elected and now he’s going to do it. Or it may be because he’s a neophyte.”” No, it’s because he’s an arrogant ‘silver spoon in the mouth’ billionaire who hates you, hates republicans, and is purposely trying to drive you out of the state. He wants you to leave. He hates you, he… Read more »