-- 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 lesson behind this bill is that work/school isn’t important. You don’t need to work, everything should be free and paid for by higher taxes on the rich! If we raise taxes on a handful of rich hedge fund managers we can have free education, mass transit, healthcare, water, housing, childcare and a guaranteed minimum income with a generous pension! It’s a monstrous lie, but it gets votes for the Democrats so the lie will be repeated until enshrined.
As a former co-workers once told me, being a responsible person means going to school or work even when you don’t feel like it.
Why are we teaching kids that its OK to skip school if they don’t feel like it?
Bad enough these kids don’t show up now for school, with this they will never be in class.
Little things like this article are what convinced me I had to get out. You see, even if Illinois could get a handle on it’s debt, it would still be governed by idiots that will find other methods to destroy Illinois.