-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Oh come on…sure you do. You will do what every jackass elected Pol has done before you, you raise property taxes. We get less safety, less protection and pay more. The average common tax payer gets very little if anything really from their tax dollars. We get, what…roads, snow plowing and some Police, jail and courts for protection. That’s about it really, not much for the thousands of dollars spent…but now…you get less and pay more. Excellent work.