-- 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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Of the 3 striking groups, only Chicago Park District employees would stand to lose pay for a work stoppage. Since the minimum school year is mandated by law, school employees would make up any lost time. That’s not possible for park employees as days not worked are gone forever. This should make for interesting conversations at the bargaining table.
Makes we want to root for an extended strike just to show CTU that not all city paychecks are created equal and some unions have certain luxuries others do not.
What the news should really say is. At least 40,000 job openings next week to replace disgruntled workers. Apply online today.
The definition of entitlement is when you make a good salary, don’t work long or hard hours, get a lot of time off, get off-the-chart retirement benefits; then, think you’re deserving of more.
DemocRats f*cked up this city. I am glad it will soon be on full display.
It all brings us another step closer to Bankruptcy. Bring it on!
Talk about a shakedown. This should be illegal.