-- 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
Public union pensions should be revised to be in line with private pensions. No more double and triple pensions.
They can take their pension and work another job that also offers a pension. Even if you stopped them in Illinois, they could simply take another job in the private sector or a public sector job out of state. Double and triple dipping pensions are not the cause of our pension debt. Instead of one guy with two pensions and healthcare benefits you would just have two people with one pension and two people with healthcare benefits.
It’s a great issue to rile up those jealous of pensions but wouldn’t save you any money.
Public Sector Unions and their symbiotic criminal collusion with Democrat AKA Communist politicians is the root cancer behind virtually ALL Blue states and cities financial catastrophes. With the taxpayer screwed. Know that Public Sector Unions are deeply unconstitutional and will soon be eliminated. For insight read “Not Accountable – Rethinking the Constitutionality of Public Employee Unions” by Phillip K Howard. PPF can bloviate until his head explodes that this position is unfair/illegal/violates the 1st Amendment/is trumped by IL Constitution, etc but this reality is coming soon to Illinois.
That darn 1st amendment allowing unions to be formed. Not to mention the Illinois Constitution that guarantees their right to collectively bargain. TPG found a book that says otherwise. Don’t listen to case law or the constitution. Just trust him. lol
Ahhhh. Right on schedule. The predictable bloviating. First Amendment certainly allows freedom of assembly and the Public Sector Union parasites can form any club that they choose. However the First Amendment DOES NOT guarantee collective bargaining for these club members. The arrogance and entitlement of these ticks is astounding. IL Constitutional clause will be negated by Supreme Court and the US Constitution.
Really good article.