-- 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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Well, the ethics reform committee missed it’s deadline today, and as expected they blame the coronavirus. The property tax committee missed there deadline a long time ago, but they will blame the coronavirus anyway. So everyone in Illinois get ready for a long line of excuses, this governor and his fellow politicians know this state is on life support, and it’s all Washington’s fault. Governor myself and every taxpayer demand that you enact a emergency property tax freeze now, force all these ludicrous taxing bodies in Illinois to live within their means. Oh, by the way sorry to inform you… Read more »
“Sure, we killed your businesses and jobs but look what you got in return! Acceleration toward fiscal reckoning, relief funds i.e., your own money pulled forward, and a ruling class even more drunk on its own power that they saved you from scary virus.”
XOXO,
JB