-- 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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Teachers, cops and firemen are the enemy of your family’s economic security. Their costs are driving people to move to other states (anywhere but Illinois). They have figured out a way to steal from the next unborn generation (shame on them). Pensions should have maximum amount of $100,000 per year tops. Lots of people live on a lot less just fine. No one group should be allowed to destroy the quality of life for others.
Spot on. I’d say no public pension could exceed the max SS pension.
I say SS recipients need to have those monthly welfare payments reduced to a more affordable level. Since recipients have zero contractual rights it shouldn’t be a problem. It’s fun to play pretend on what one thinks should happen. Unfortunately, the SS welfare queens will squeal to high heaven if their gubmint cheese is reduced. Pensioners have an actual contract unlike the SS welfare recipients. Just because you are a jealous doesn’t mean they will be paid less. They are owed the money and will be paid accordingly. Doesn’t really matter what you think. Oh, and they will be getting… Read more »
Do you live in Florida in a luxury home?