-- 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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JB Got to pay for all the abortions somehow now that illinois is leading the nation.
No state taxpayer money should go to NGOs. NGOs fund left identity politics.
My pet peeve is “Catholic” NGOs that facilitate illegal migration.
Mine also includes lutheran, Jewish and more
I for one am not happy with the pension issue but it is what it is (Thank you GOP Governors Thompson and Edgar) and would not be such a big issue if money, instead of being wasted on things like this, Gotion et al, was invested in the pension fund accounts. The incessant spending on what we don’t need has got to stop and instead be directed at what we actually owe like it or not. It’s that or continuing higher taxes…take your pick
100 Percent RB. Nobody should be happy with the pension situation but we continue to dig by not properly funding it. Whenever people state they are unsustainable, one should look at all the additional spending for “wants” that have taken place over the last decade vs “needs”. Our budget has increased from 37 billion to 55 billion during the last 7 years. There was plenty of money to actuarial fund pensions if we used $4 billion of that $18 billion increase. Perhaps, one day Illinois leaders will be forced to start doing the right thing but not if voters don’t… Read more »