-- 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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The 1% tax was somewhat fine with me before but now that gas taxes have doubled/license plates are up by 50% and a myriad of other taxes increased maybe it’s time to say no to extending the 1% tax. Beloit sales tax is 5.5% and are doing fine plus it is not to far a drive for many. Taxpayers are tapped out.