-- 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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No wonder Illinois is worthless financially.
people of Illinois, moving to another state will be the best financial decision you make in your lifetime.
No property tax breaks whatsoever for business owners/landlords who are expected to give a break to tenants/and those who lost their jobs. No funding cuts anywhere. Giving raises due to contracts. Total political insanity.
Totally agree. Businesses make cuts and struggle to survive, but the state and Cook County continue on their merry way, no cuts are needed. THEY are the only one that feels any impact apparently, they are working SOOO hard. Our leaders are CLUELESS in ILLINOIS. They really think money grows on trees. It is ok for them to get a paycheck every week, and everyone else will just have to figure out how to cough up taxes. When business struggle, the last person to get paid is the owner. So let the answer be PROGRESSIVE TAXES? Genius, sheer genius.
If you want your business to survive then move to Indiana.
I left in 2018,this will not hurt me because we moved out.You stay and suffer I won’t All my savings in tax’s go’s to my savings account.That is a lot of fun,instead of suffering in Ill.
Yes, Tom. Same here. I moved to Nebraska and have higher pay with fewer taxes. AND my home appreciates.