-- 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 Democrats will care as soon as they stop getting re-elected
It’s going to take a near-literal revolution for that to happen. Sadly, I agree with those who say that the only way to change IL is for those who PAY taxes to abandon it to those who consume them. When that occurs, the cannibalism among the parasite class should be entertaining.
The rich upper middle class liberals who vote exclusively Democrat would suddenly have to start voting for conservative candidates… and that’s never going to happen, because they are the source of the funds for the Democrat Unions, the transfer payment and entitlements, the local sales taxes, and high income taxes, and so on.
Bravo to you and Crain’s for hammering away on this issue. Pritzger is some one who likes to be liked. Doesn’t he understand that high property taxes (and taxes of all sorts) only make people hate him.
Jabba supposedly has a lower approval rating than Trump! I’d like to see some reporter ask him about that at a press conference.