-- 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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I have an equitable solution to the whole thing:
Shut the indoctrination rat-holes down for good and let the people, especially those that cannot afford Illinois’ oppressive taxation, to keep their hard earned dollars.
They will then have plenty of money (sans the Teachers Union Rip-Off) to pay for their kids education.
Not true. Much of that get spent on pensions which does nothing for education.