-- 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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If you want to wake up Chicago voters, send each of them an invoice for $42,000 with a payment plan and start collecting.
Illinois should do the same thing – that would get voters’ attention.
Illinois does not have the change of a Nickel; The Chitty of Chicago does not have a penny.
Some of the highest taxes in the country and no money.
Just where is it all going?????????????????????????????????
Overly generous Pensions, overly generous Pensions, overly generous Pensions, overly generous Pensions, overly generous Pensions, overly generous Pensions.
There is a HUGE PENSION TIME BOMB going off. Run for your economic life.