-- 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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When have you ever seen a substantive, tough interview like this with Pritzker? Never.
It was unanimous. Every single member of the General Assembly, the Governor and the mayor supported this enhancement. The people through their elected representatives fully support this change to pensions. The people are getting exactly what they voted for.
Yeah, ya know, I guess that’s technically true…but good God…this decision just makes no sense. The decision has no basis in reality of how it will ever be paid. It’s like they want to drive the state into bankruptcy and assume the Federal government and the rest of the country will care. Not all of the people voted for this.
Yes they did. All of the people’s representatives did vote for this. We don’t have a direct democracy but rather a representative republic. If people are upset with this outcome they will need to choose different representation. If they are ok with it, they will reward those politicians. We will see which way the public votes in the next election.
You betcha. So far “the people” have spoken—through the votes of their elected politicians just how all such representative democracies are supposed to work. Those who are greatly aggrieved can move or get busy finding more attractive political candidates.
That requires taking ownership of things one can control. Unfortunately, most people, as we witness here daily, would rather blame someone/something else than take ownership to work towards a different outcome. Much easier to whine and complain than actually put in the work.
The world is full of complainers, and in a democracy it’s just more obviously so. We all know people who complain endlessly, yet shun any real personal work to bring about improvements. It’s simply easier and more personally entertaining to remain uninvolved in any way. Anonymous websites incite such attitudes, essentially prolonging one’s adolescent prankster proclivities usually far more than stimulating real political change.
Anonymous like having the name PPF to hide behind while lying about not getting a public pension and defending public pensions endlessly in hundreds of comments a week due to no life.
The next prolonged downturn will bankrupt many public pensions, including most pensions in Illinois. Enjoy. No more comments for me today. I have living to do unlike anonymous liar PPF.
Too bad, but maybe you’ll honor us with your presence tomorrow. I’ll look forward to further inspiration from you.
As opposed to the non-anonymous “Dan”. lol
Sounds like Pritzker is that you sir.
Yeah, yeah…”the peoples representatives” voted for this. No direct democracy – representative republic. Yep – thanks for the civics lecture. My only point and then I am done, is that it makes no logical or financial sense, whoever is elected, however the vote was done or who did it. Its just irresponsible. Thats all – thanks for listening.
Your elected representative disagreed with you and voted for it anyway. For whatever reason, he or she thought it was a good thing to vote for. Perhaps you should take this up with your representative.
Things I want my elected reps working on:
– lower my taxes
– release the Epstein files
– end all immigration into the United States
The rest is just window dressing and empty talk!
The elected reps in this discussion are state reps and state senators. They are not involved with the Epstein files or immigration. As far as lowering taxes, I would love that as well. Unfortunately the majority of the voters don’t support those types of candidates compared to the more services and the other guy will pay crowd. In this case. EVERY elected representative voted to spend more money.
For whatever reason? It’s a huge mystery why politicians keep voting for money and benefits to public unions, right? Almost as mysterious as how to teach kids reading and math.
How could he be expected to do the right thing when nobody tried to stop him? Where have we heard that before?
You mean the mayor didn’t kneel at your throne and beg you not to sign it Right ?