-- 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
I’m waiting for the machine ghouls to use anti-Trump / DOGE as cover, as an attack on the “working man” rhetoric, to ram thru HB5909/ TIER 2 “fix” with dopey taxpayer/voters to brain dead to notice whats hit-em as usual. JB’s pretty much the only one stopping the machine (Martwick, Kifowits, etc crew) from passing HB5909/ TIER 2 “fix”. If JB’s national ambitions lead him to decide he has a better chance pursuing presidential run by replacing Durbin than being associated as gov of fiscal disaster and he hangs it up as gov, then watch machines pass HB5909/ TIER 2… Read more »
100% for sure the Taxpayer will not benefit in any way. Never has never will.
looks like those who work in these systems, less than 10 years ,would prefer a portable retirement plans, like an IRA or 401 k
But then the democrat politicians and the union stooges don’t have a piggy bank to steal from.