-- 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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How can Illinois cut taxes when it has the assorted debts that it owes and has considerable new spending issues such as the migrant situation? Fill me in because I would like to know.
How does Illinois raise taxes enough to cover all the people with their hand out, without creating a stampede to the exits?
Fill us in, because I’m sure JB Pritzker, Kathy Hochul and Gavin Newsome would love to hear the answer.
Doesn’t this tax to the the local village/town/city? So the local authority need to cut expenses ( not happening) or raise funds through additional/new fees/taxes.
Correct doctor. But now those local government officials in red areas will have to cut expenses or raise taxes and upset their local voters. Makes it harder to just blame democrats.
JB knows how much a Happy Meal costs at McDonalds.
Can’t get anything by him, he knows what his people want.
Of course it does…….this guy could care less about legal citizens……go away JP