-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
I thought a company’s SUTA rate was determined by how many of its employees claimed unemployment benefits.
I believe you are correct on that so Illinois employers will be facing even higher rates soon adding more pressure for the employers to move elsewhere.
Every honest hard working tax payer will pay for it.
Government employees will not pay 1 cent of it.
Illinois unions and all state workers teachers etc they can afford it