-- 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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Heroes, you mean those mercenaries who are paid huge sums of money given their relative skills and abilities?
I know many LEOs…one issue they face is they are so highly compensated(in terms of total compensation) in states like Illinois for the skills they actually possess that they often feel they are trapped by the money (and their lifestyle) and they have no where else to go, which is essentially true. The other factor is they soon learn that in the end, it is all about the money. Their unison are corrupt, the entire civil service sector is corrupt and it is all about the money. A hard pill to swallow for those few who entered with altruistic intentions.… Read more »