-- 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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And with this the exodus of real Americans from Illinois continues.
Can someone look into this? I seem to remember reading that a few years back the Arizona governor had a crackdown of illegals and many migrated(or were enticed) to Illinois and some politicians here made a stink about that. They mentioned that that could cost Illinois taxpayers at least $4 billion total or per year in benefits such as schools and medical. I can not seem to find which politician or what publication this was in. Thanks.
The reason there are so many immigrants here is because everyone else is leaving. Many immigrants find Illinois welcoming, because it is likely better than where they came from, if their homelands were bastions of violence, crime and socialism run amok. The politicians know that without these people, the state tax base would be in a much worse catastrophic death spiral. But they ignore the cultural implications of this much change, this fast. Existing families and residents are mostly tolerant and welcoming, but when the culture changes dramatically, tensions ensue and we have problems. There seems to be a blindness… Read more »
From my personal experience, most immigrants come here and claim ‘exempt’ from paying taxes and then don’t file tax returns! They are not expanding the tax base!