-- 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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So many wondrous ways for IL to create or increase taxes and fees, then just sit back and watch the population and business continue to shrink. Whatever you do, don’t reduce the bloated state and municipal governments to save huge amounts of money.
Never mind the ‘Executive-Director-Caused-Disaster’, laughably described as a ‘fiscal cliff’. Illinois will now require any mom and pop business who ships anything into Illinois as having nexus in Illinois. The Wayfair decision captured the Amazons of the world, but JB the Hutt and his fellow gangsters now want to force small businesses into expensive compliance costs. Were I a non-Illinois small business, I would skip the People’s Republic of Illinois as a shipping destination. Many businesses will, causing the actual tax receipts to fall far short of the gangsters’ expectations once again. This ranks up with the imbeciles at the… Read more »
Headline: Illinois soaks Illinoisans for more taxes to fund bloated and mismanaged transit agencies.