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.
How can you do a guaranteed income program, when Chicago bonds are rated junk and the state of IL is 51st, behind Puerto Rico, in fiscal condition. Plus Chicago/IL political corruption among the highest of all 50 states….wonder who might get that guaranteed income? As per usual, I’m sure the IL homeowners will pick up the tab via inceased property taxes and therefore continued depressed home prices.
If you know how to work the system, you can already get a guaranteed income. Amazing how educated people are at doing it
I am in a guaranteed income program. I get up, work hard for 8 hours a day, and I’m guaranteed a paycheck on Friday.
This kind of stuff is laughable if it weren’t so serious. Lookie here, Chicago’s on the cutting edge of everything, they’re stealing from the tax payer and giving it away, for free! The banks no longer have a monopoly on looting the treasury now!