-- 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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The taxes on pot are extremely high. All those taxes should stay in the town that has a dispensary instead of sending the money down into the abyss called Springfield. The local officials should? know better on how to spend the money in their area. Same for gambling taxes. Millions will be sent to Springfield when the permanent casino opens in Rockford later this year. Keep the money here and help people who need it and lower property taxes.
Properly spent means spent on C h i c a g o