-- 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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Now with BJ as da Mayor of Sheeeetcago taxpayers need to bend over and grab their ankles.
Higher and higher taxes are coming your way.
Glad I voted with my feet over 20 years ago and left Taxistan.
Da Judge
The #1 problem in Il is the wildly fantastic public pension and medical benefits. Nothing happens until that is remediated, along with tough new political corruption laws.
In Illinois 25% of general tax revenues pay for pensions.
And another quarter goes to Medicaid. Include education and state employee salaries, and nearly all of the entire budget goes to DEMOCRAT VOTERS!
Spot on and good luck if you need a cop in a hurry.