-- 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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EBF remains an unfunded mandate. No one has yet identified a specific revenue source to fund the additional $300M+ per year required under the legislation.
And 100% of the funds have been wasted
Giving politicians power & expecting them not to use it to its fullest…?
How naive…
We are under the rule of “leaders of servants”…
‘Bi-partisanship’ is what crooked corrupt union racketeers like Martire invoke — when they want to shield their bought-and-paid for Democrat stooge politicians — from the political consequences of hard voting for more taxes. Martire has spent his life helping labor goons shake down the taxpayers in Illinois
https://www.illinoispolicy.org/progressive-income-tax-brought-to-you-by-illinois-unions/
The state has always been a convenient villain for Martire because they are far away from where the money is actually spent. Come referendum time, taxpayers complain to the school board > school boards complain to their superintendents > superintendents complain to the state education board > state education board complains to the state. It was the state all along!