-- 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 Shitty of Chicago should lay off 1/2 of its employees (not workers) before they ever raise taxes.
Good thing for all the retired cops living in Luxury homes in Florida that they got out while the getting was good. Punta Gorda, Fl. has more Chicago cops than Chicago does.
Illinois “Land of Slavery”.
Don’t forget the teachers. I know a retired teacher that makes more in one year of retirement than she made in the first ten years of working as a teacher. Seriously
I vowed after the protests to never spend another dime in the city. It’s been two weeks and I’m doing pretty well. Screw you Chicago.