-- 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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This is your que to duck!
Illinois doing its best to chase the rich out of the state. Look out Florida and Texas, the rich will be fleeing high taxes and are coming your way. All that will be left to pay taxes will be the poor hardworking family man. Taxes will go so high you will think today is the good old days.
Democrats enact policies to create massive inequality. Things become really unequal and the peasants start complaining. Democrats enact new laws to ‘fix’ the inequality they alone caused. The ‘fix’ will most certainly make things worse.
Failed socialist states are running out of other people’s money