-- 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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That’s the problem with Democrats. They vote Democrat their entire life until their home is destroyed, and then leave, and vote Democrat again in the new state, and start the process all over again. Red western states complain about California blues all the time. They’ve wrecked Colorado, they’re about to wreck Idaho, Texas and they’ve turned Nevada completely blue too.
To rub salt in the wound, she’ll take a hit on selling her house. Who wants to pay $20K in property taxes?
We visited some friends over in Indiana the other day, and found out they pay less in property taxes on their house than the amount on ours (which we thankfully don’t own. Grandparents’old house rented from my parents) despite the fact that theirs is assessed at nearly 3x the value. Makes us all the more glad we’re moving there once my wife finishes her degree next year. In Illinois, property is a liability rather than an asset.
Great story. I can’t blame her. And you can add my name to list of people who want to leave.
Well I do blame her. I bet she has voted democrat all her life and now she is complaining about her property taxes. What did she think she was voting for all these years! She was voting for more government and bigger pensions.