-- 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 man. More good news about revenues climbing greater than expected. The doom and gloom crowd will not be happy. More than $50 billion per year and rising. So crazy considering “everyone” is leaving.
If you’d actually read the article, you’d understand this news is neutral. The report says that growth is driven by inflation on sales tax and income taxes and a record stock market. They’ve taken a cautious approach to their projection and “…final income tax receipts could drastically alter the revenue landscape.” The larger issue is that IL’s increased revenues are tiny compared to other states that are actually growing through organic growth, and not only through inflationary measures. I’ve posted them before: Texas has a $27B surplus over two years; Indiana is taking in so much revenue they can devote… Read more »
Smoke and mirrors, not really happening. Politicians are nothing but liars and crooks.
Do not see how this can be, people are moving out big time.
You don’t “see it” because you’ve programmed your mind to almost always think otherwise. Your unspoken motto is “when in doubt think negative.”