-- 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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Go to Capitolfax by Rich Miller and see all the bemoaning of this proposed legislation. The Lefties there are apopletic.
1000 to 1 this will never pass in our DEM controlled state.
I sense the formation of another tax task force committee that will be appointed to figure this out. Just like the property tax task force never did.
Some of the reasons I left Taxistan;
People are not leaving Illinois; they are fleeing Illinois. So many good reasons to get the hell out it is hard to pick the straw that broke the camel’s back.
Nice to see Koehler doing this. He is very, very liberal so I am surprised but pleased.