-- 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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Somebody’s gonna have to support a state with one of the largest welfare recipient populations in the country. And that was pre- 600K “ new neighbors “.
Your local school teacher needs that $100k a year pension. The superintentendent in my neighborhood retired several years back, and gets $200k+ a year for life
No, no, you don’t understand. It’s not about need. They earned their pensions because they have a contract.
Shocking, the Illinois Black Hole!!
I left Taxistan over 20 years ago and my bank account is now $200K fatter because of lower property, income, sales, gas, etc. taxes.
Wake up Illinoisans and vote with your feet and leave this corrupt Big Blue state!!