-- 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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OMG a giant breaking news story! $0.01 more on a dollar purchase, $1.00 more on a hundred dollar purchase. Don’t get me wrong, the taxes suck and should not be on food but actually saying get ready to pay more for groceries over a penny on a dollar is just clickbait.
Zeph, it’s the one penny more on top of the “pennies” we’re currently paying.
So a 1% tax increase on most families’ 2nd largest expenditure isn’t a big deal?