-- 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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We need to find and destroy the Illinois Illuminati!! The Illuminati is to blame.
It is in front of our faces. The Illuminati is doing now and we can not stop them.
I hear the Illuminati lives in tunnels under ground. It rumored they they don’t pay property tax rather.
Pension reform (including those already drawing one) needs to happen ASAP!
I can’t imagine any of those good retirees helping a thief steal their neighbors’ belongings – so long as they get a cut of the bounty. But, they think it is just when Big-Gov does it for them.
You go jan
The comments above show how successful Springfield has been at pitting neighbor against neighbor – with hatred. Since it’s inception in 1939, the General Assembly has not once made a required payment..That has created the present situation where 80% of next year’s payment (if made) will go to cover past abuse. The situation got so bad that when the new constitution was drawn up, the term “contractual” was added. This language was OKed by the convention and THE PEOPLE OF ILLINOIS after the subject matter was covered in pamphlets and newspapers, as required by law. Nothing changed. This was doable,… Read more »