-- 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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Thank You Governor Pritzker!
I guess these young adults got an excellent civics lesson here.
These kids just learned what we’ve known for years. You can’t trust Illinois politicians.
Hurting some of the poorest of the poor is the Illinois way. All the time paying $100,000 plus per year pensions to young retirees that have moved out of state. If a private sector employer did this there would be criminal charges. Illinois government SUCKS.
don’t kid yourself-the private sector is at least as bad if not worse. just look at all the CEO’s who fire hundreds of workers, or in the ins industry deny legit claims from people who faithfully paid their premiums for years, yet at the same time take multi-million dollar bonuses for themselves.
Echoing the comments from others in posts about government workers salaries and benefits…perhaps you are jealous of CEO’s, who hire hundreds of workers, pay them salaries and benefits and aim to keep their companies profitable so that the business doesn’t go bankrupt and keeps the workers employed so maybe you should submit your resume and beome a CEO.
The Illinois Way is to hurt taxpayers first, then make sure that the pals of political animals have their pockets lined with freshly folded money. Sorry, kids. Nothing left for you. Now you kids know how the taxpayers feel.