Watch Berkowitz w Truth in Accounting's Bergman on IL & Chicago's financial disasters: Cable & Web

Tonight’s Chicago Metro suburban edition of Public Affairs features Bill Bergman, a three decade expert in private and public sector finance and financial issues, and currently Director of Research at Truth in Accounting. 

Bergman discusses the financial mess that characterizes the City of Chicago and the State of Illinois. 

You can watch the program with Bergman by clicking here.

The program also airs tonight in 24 Chicago Metro North and Northwest suburbs at 8:30 pm on Cable ch. 19 or ch. 35 (See, below, for a detailed airing schedule by suburb and channel).

Bergman debates and discusses with show host Jeff Berkowitz the disastrous financial condition of Chicago and Illinois, focusing on the 200 to 400 billion dollars in Illinois' unfunded pension and retiree healthcare liabilities and what that means for the financial condition of the state and some of the consequences of that fiscal condition, including migration of people and businesses to other states.

Also discussed are: 

potential solutions to the State's financial and pension problems including bankruptcy, the threat of bankruptcy, voluntary reduction of benefits and services by the State's various stakeholders, amending the Constitution and raising taxes massively.

Democratic gubernatorial candidate Pritzker's proposal for a progressive income tax and Wirepoints' analysis and projected impact of Pritzker's proposal on almost all income groups, including those in the middle class.

November 6, 2018 IL gubernatorial and state legislative elections and the differing views of IL gubernatorial candidates Rauner and Pritzker about unions and handling the IL state employee pension crisis.

The above can be understood as a series of Q and A:

Why are those finances in such a mess? State and City employee, police, fire, etc pensions the main problem? If so, can the pension mess be fixed?

Will that require massive tax increases? More than the City, CPS, the State and their taxpayers can afford?

Instead, everybody has to get a haircut? The pension beneficiaries? the bondholders. The vendors? The current recipients of services?

Bankruptcy needed?

Will the Pritzker Progressive income tax hit the middle class hard? Precipitating a Chicago and IL Great Train Wreck?

Watch tonight's show with Bergman and show host Berkowitz debating and discussing the issues, and giving you answers to the above questions. 

You can watch the program with Bergman by clicking here.

The program also airs tonight in 24 Chicago Metro North and Northwest suburbs at 8:30 pm:

on Cable Ch. 19 in Buffalo Grove, Elk Grove Village, Hoffman Estates, parts of Inverness, Lincolnwood, Morton Grove, Niles, Northfield, Palatine, Rolling Meadows and Wilmette and

on Cable Ch. 35 in  Arlington Heights, Bartlett, Glenview, Golf, Des Plaines, Hanover Park, Mt. Prospect, Northbrook, Park Ridge, Prospect Heights, Schaumburg, Skokie, Streamwood and Wheeling.

You can learn more about Truth in Accounting and their State Data Lab at TIA's web site and:

at State Data Lab

***********
Bill Bergman's academic background: UChicago MBA and UChicago Harris School MA
Bill Bergman's employment background: Thirty years of working in Economics and Finance, including at the Federal Reserve Bank of Chicago and currently at Truth in Accounting and
Loyola University, Chicago- teaching Finance courses.

 

Leave a comment