-- 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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But real tax reform would mean that JB wouldn’t get to play Santa Claus, giving 10 day tax holidays for items often not taxed in other states. And he is big enough to fill the Santa Claus role, isn’t he ? Pritzker—what a dastardly evil man !
Illinois needs to derail its runaway spending so it can right-size the tax burden