-- 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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How about canceling it for the year? The state already made money hand-over-fist from the sales tax on inflated gas prices, far more than they had projected. Just cancel it and reinstate come July 1.
We need to become more disciplined during good times and make sure we collect those additional taxes wherever and whenever we can. The state needs more revenue. Now is not the time to cut back on collecting taxes.
More discipline is definitely required, just not with respect to collecting more taxes.
How about removing it all together? Novel idea , eh?
While they waste time discussing this…
What about the Safe T Act…?
Or clipping Emperor JBP’s wings on his never ending covid emergencies…?
Major Attention Deficit Disorder in the state house…
Nothing quite like representative government!
WI-$2.79-Iowa $2.70-Missouri $2.65-Kentucky $2.65-Indiana $2.99 or less. How many millions in tax $$$ is Illinois losing by all the people buying gas in neighboring states? What will Illinois pols do to compensate the loss? Raise taxes for all those unable to hop across the border for cheaper gas. Any talk about lowering license plate fees?
I suggest that Illinois do a study to figure out how Michigan has cheaper gas and no toll roads and no wheel tax stickers.
Was just driving in Michigan. Their roads suck.
Yeah, but they’re cheap compared to Illinois
IL roads don’t? Where I drive they do.
Don’t by gas in Illinois whenever possible. $0.40 to $1,00 gallon cheaper in Wisconsin. Thank goodness I’m close enough to save $$$$.
The Democrats spent years telling us children will die if the gas tax isn’t increased, now they want to delay it?
Their default is always,” But think about the children!”