-- 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 jackas- needs to go.
Why? Because he’s telling you that the state needs more tax revenue? He’s being honest unlike the rest of the politicians. If people want to cut spending that’s fine but I don’t see anyone out there in office or running for office with the platform of spending cuts and specifically outlining where those cuts will take place.
Tax increases will definitely be happening it’s just a question of who will be paying.
“… Illinois’ current, rosy fiscal picture …”
Does anyone with ethics and financial sense think Illinois has a current, rosy fiscal picture?
What good thing does Illinois have going?
As Senile Joe would say, Ralph Martire is a “one-horse pony” — his answer to every problem is another tax for overtaxed Illinois — all to prop up the union-rigged corrupt Democrat Party