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.
Those opting out are police, firefighters, teachers, bus drivers, all occupations dealing with a public that berates them, breaks rules, assaults them, and sues them. Don’t see them opting out of cushy bureaucratic office jobs
Right. Who would give up a government desk job for a private-sector job with half the pay, twice the work, less benefits, and less job security?
It is because the feel GUILTY for taking large pay checks, great benefits and HUGE PENSIONS for doing nothing.