-- 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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I certainly want all people to have health care coverage. On the other hand, it’s extremely expensive to cover 1 in 5 people in the state with ‘free’ health care, and 3 out of 8 children too. Think about that – nearly half of all children in the state are on medicaid. Kids need health care but come on – parents can’t even be bothered to pay a minimum co-pay or out of pocket for seeing the doctor for their own kids? I have to pay literally tens of thousands of dollars a year to cover my family every year… Read more »