-- 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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What about reducing our taxes?
That’s Funny Our progressive legislature hates Trump too much to consider lowering your taxes. They can’t even say “tax cut” they have to call it “tax relief”. Because “tax cut” is what Trump gave most residents of other states, but not IL. Except me, I did my part to make future tax payers and I have a business, and my property tax bill is lower and within my means. so I got a big tax cut.