-- 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
This program encourages people who don’t want to work or better themselves to continue to do so. It is another of so many programs already in place in IL that abuse the taxpayer by mismanaging taxpayer funds.
Crooked Corrupt Cool County Preckwinkle Wants More Tax Dollars Plushed Down The Toilet For Her Welfare Giveaway Stunt
It started with free government cheese, then more free stuff, now monthly cash. Democraps encouraging welfare handouts, encouraging a government dependency, keeping the sheep in the pen. How to destroy a country, make the people lazy, make them suck at the government teat, make them obey without objection.
Yep, gee I wonder if free money without the stipulation that the recipient actually produce something could contribute to inflation.
Of course it will! Bad money devalues old money put away as long term investment or saving by prudent hard working folks.
Like all stupid people, they believe the answer to inflation is more money!