-- 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
So instead of having three guys standing around watching one guy work, they’re all going to stand around on strike? Not much of a difference.
This is never going to end. Feel like a chump every time I pay my property taxes. This state will tax us out of our house in retirement because of these Glib decisions made by politicians who don’t care that every dollar they give away, comes out of someone else’s pocket.
Is brando & the ald rubber stampers going to give um 5% raises a year just like he/they voluntarily gave fop 5%, no negotiation required? And then you have to assume ctu starting point will be 5% raises a year min as well……chump taxpayers be dammed
Do the five percent raises include the prorated step increases?