-- 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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Oh well, they carry a heavier burden. How many of them have been voting for democrats forever like it was their job?
The 20% increase in taxes only makes sense if accept the fact that they’ve actually been underpaying for years.
The other thing I don’t understand is that if everyone’s taxes are going up, whose taxes have gone down? Did commercial properties all throughout the county really decrease that much that homeowners have to make up such an enormous difference?
Preckwinkle considers the suburbs as tax revenue for Chicago. Cook county provides few services in the suburbs. Health services in souther suburban cook county very sparse