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.
Pritzker can avoid the “extraordinarily painful” cuts to programs and job losses if he focuses on reining in the unduly generous salaries, pensions, and health care benefits. Also, the IL taxpayers would finally get a break. Problem solved.
I challenger Pritzker to show where ‘painful cuts’ have ever been made in State government. The recent unearned and unwarranted +$250M pay increase for Pritzkers donors, state union employees, show there is nothing serious in Pritzker’s statement about ‘painful cuts’.
Are there numbers of how many of the 20% unemployed in IL right now are public sector workers? I’d guess its less than 1%
Too bad his job isn’t cut.
He does nothing to help the people of Illinois.
Typical democrat/socialist fashion, to blame and deflect. This is exclusively an Illinois problem. Years and years of misspending and corruption when the democrats have been in constant control of Illinois is the problem. I live in Illinois and I hope it doesn’t get bailed out. You don’t reward that kind of logic. That would be enabling the problem. I always thought it was humorous and pathetic that this slob of a billionaire governor has the audacity to tell everyone what to do but he is incapable of taking care of himself. One look at him and he loses all credibility… Read more »
“Extraordinarily painful cuts”?
Gee, I’m so sorry fatboy. If you and Madigan had not been such profligate spenders for YEARS, we might have had some cash reserves to handle the turbulence. You know, like responsible consumers do.
Let’s get out the knife and start with all the fat around your mid-section.
Pritzker. If he can’t even control his weight, is it any surprise he can’t control the budget?
Start the ball rolling make cuts start with your corrupt union buddies, but please leave education alone stop using the children as hostages ok chuckles.
So according to Pritzker/Madigan, government workers are sacred because of the trickle-down value that they add to the economy? Clearly I need to get my fat Samuelson Economics textbook out and slap Pritzker in the face with it. Open to the chapter on Keynes.
It would be the first time that the chapter had ever been useful to society.