-- 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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Pensions Paid First ought to move to Evanston and enjoy the workers paradise up close and personal.
Setting aside enough money for ones bills is now socialist? I wonder if you think all those Navy Seals and Marines are also socialist for cashing their pension checks? Also ironic considering Old Joe sucks at the welfare teet of his Social Security. It’s almost a new month Joe. Time to get your gubmint cheese. If every city and state operated this way we would be much better off. Now every voter is aware that those pensions have costs and they must be paid. Maybe with enough increases the voters in Evanston and elsewhere will change their elected representation. Maybe… Read more »
Actually the root cause of the problem is the legalization of public sector umions and the incestuous relationship between them and Dem pols which has developed over many decades.
Not only legal but public sector unions are now guaranteed by our constitution. Unions and collective bargaining are here to stay Old Joe. The people of Illinois have spoken. They want public unions to be able to negotiate through collective bargaining in order to get the best contract and working conditions. You know what’s not in the constitution? Your social security welfare that you receive every month. While public union contracts are guaranteed by our constitution, no such safety net exists for your SS welfare. If you are really concerned about this nation you should be advocating the abolishment of… Read more »
PPF, you need to read The Road to Serfdom by Henry Hazlit as that is where you’re headed. He actually wrote this prescient tome in the 1940s for people with your perspective.
Not only legal but public sector unions are now guaranteed by our constitution. Unions and collective bargaining are here to stay Old Joe. The people of Illinois have spoken. They want public unions to be able to negotiate through collective bargaining in order to get the best contract and working conditions. You know what’s not in the constitution? Your social security welfare that you receive every month. While public union contracts are guaranteed by our constitution, no such safety net exists for your SS welfare. If you are really concerned about this nation you should be advocating the abolishment of… Read more »