-- 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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Did Rich Miller have the courtesy to give the governor a reach-around while he was servicing him?
Rich Miller has never met an illinois Democrat that he wont suck up to.
Did he ask the Governor about “Toiletgate”? Did he ask how removing probably 5 or 6 toilets can reduce assessed value by over 80% and save himself over $300K in tax’s?. All the sinks and shower/tubs were still connected. He could have had a Port O Potty delivered. How many of us had remodeling done to our homes like bathroom or kitchen and never in a million years would we have thought that we could go to the assessor and have an 80% reduction on value? We could have just turned the water supply valve off and technically the toilet… Read more »
Golly gee Governor, my readers at Capitol Fax want to know the hard truth. Was your first year really great or really really great?
Rich who?