-- 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
Of course you lose nurses when: 1. 60 year old nurses must treat extremely demanding, entitled 55 year old retired Illinois teachers whose retirement income is higher than nurses’ take home pay. 2. 60 year old nurse must wait until age 67 for social security, which is 50%-75% lower than teachers’ retirement income. 3. Nurse paid for her social security with annual 6.2% payroll deductions. Teachers usually pay zero(or, pay at most 2%) for their pension entitlements.. 4. Teachers get free (taxpayer funded) health insurance when they retire at 55. Nurses pay for their own, at least some substantial portion.… Read more »
Maybe ya shouldn’t have driven all those nurses away with your poison ‘vaccination’.
The problem Illinois has is actually a surplus of Democratic Party left wing progressive woke politicians.