-- 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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This is just the beginning
I agree with every comment here but we are all just pi$$ing in the wind …
Elections have consequences and 55% of the voters of IL are the dumbest voters *in the country*. It’s sad because I know these people, they are kind, and friendly and helpful and down to earth. But you mention the Republican party and they start relaxively throwing up in their mouths. Because years and years of local and national media repeating Republicans bad has an effect…
“I agree with every comment here but we are all just pi$$ing in the wind.” I couldn’t agree more! Nearly everyone on this website is of the same mindset. Such commenters might consider going to a wider arena and express their views fully expecting criticism or simply revel in the pats on the back from the in-crowd here while realizing the loss of traction elsewhere. That should be self-evident, but if so its not being expressed.
James, good point–what ‘wider arena’ sites do you recommend or are sites that you comment on that you consider not so one sided? Also, i think its good you keep commenting on wp even if disagree in our increasingly internet siloed world, left or right, we all live in
I have no such recommendations, but look around. I’m sure such sites are out there. All we can hope to do is give our point of view and let the chips fall where they may. Changing another person’s point of view is almost always as slow as pouring molasses. Its much easier to stick with long-held beliefs.
I agree with this except one comment: “Elections have consequences and 55% of the voters of IL are the dumbest voters”. Not dumb at all. Most of the voters in my City (Palos Heights) are either Union, Government workers (40%), retired Government workers on a fat pension or special interest cronies of the Governor and the Swamp. Why would these folk not vote Democrat? Gravy train comes to mind. Can we now ever be sure that the ballot boxes in Chicago are filled with honest votes? Combine the above with a local paper that leans left and a non existence… Read more »
Democrats tend to be low information and low reliability voters. Republicans are pretty consistent in this state and turn out is pretty steady. Obama’s first term, and the bad orange fired them up so everything turned blue. My gut is that this Carter admin…ahem, sorry, Biden/Harris admin, will be so weak, and anemic, that many will fail to show up these next four years, and Republicans may be able to squeak by a win in some local and statewide races. The two wildcards will be mail-in voting and R candidate participation. When the state starts sending out ballots, they almost… Read more »
I think you mean the Harris/Biden administration
Don’t forget that at least 50% sometimes more run unopposed also including republicans. Last election 50% ran unopposed in the house and 40% or so in the senate (please correct me if I’m wrong). Now add in political boundaries that are drawn where politicians pick the voters so how does someone vote them out? The worst is the Speaker of the House needs only 60 votes in the house to retain his position. Maybe the speaker should be on a state wide ballot considering how much power he wields. I think they vote for him on Wednesday but who is… Read more »
Will the gravy train riders ever realize that if present course continues the gravy train goes over the cliff? And then will they understand that it is not in their best interests to continue voting for that track?
How about a tax on worthless trust fund billionaire sh**bags instead, bonus tax for every out of state vacation home and horse farm. Toilets not factored into equation.
Tax by the pound, Pritzger alone could pay off the state debt
A better link to the article
https://www.illinoispolicy.org/pritzker-wants-500m-tax-hike-on-illinois-small-businesses/
And so now the final death nails are put into the coffin of Illinois’ small businesses.
Why would anyone think this would not happen in the land of utopia provided by taxation enabled confiscation of assets by the Illinois political system?
This system has been created over decades and yet most individuals when questioned have no idea about things like pension underfunding.
Invest wisely in a way Illinois can not tax it is the solution
I think governor Slobbo peaked when the FBI wiretapped him trying to get obama’s senate seat from blago. What a pathetic joke. Take away his inherited cash and he’d be selling balloons in Lincoln Park.
Deck chairs on the Titanic. And the corrupt Democrat morons are 99% responsible – well actually irresponsible. All self-inflicted. Illinois has gone from a solid AAA-rated State to a basket case in 45-years. What do the Democrats have to say about that? It’s amazing what corruption and stupidity can accomplish.
JB, I dare you. Do it.
The flight from our sinking state is unmitigated and increasing. Please, run us into the ground. Many of us have the ability to leave – the wherewithal to swallow some capital loss, but still move on… The folks who are left, once you run out of other people’s money, will simply start to eat their own. And you, our grand leader, will be one of their first calls.
This man is useless, again call for his impeachment remove this idiot rise up people of Illinois do you realize your constitutional rights are being violated to the fullest extent.
Perfect. Nail meet coffin