-- 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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Once again, for the middle class, it doesn’t matter whether the progressive state income tax becomes law, because IL desperately needs huge amounts of money to feed the high salaries/pensions/health care benefits machine,. If the tax becomes law, the middle class will be screwed, either immediately or eventually. If it doesn’t become law, the middle class will be screwed because the Dems will generate additional revenue in other ways; e.g., raising the flat tax rate. Relocation out of state seems to be the only way to stop the continued abuse of the IL resident by the Dem pols.
What credibility does Brady have?