-- 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 have a better idea. Let’s take all those medicaid patients and buy them one-way tickets to California on Greyhound. Especially the elderly in long term care, they’re the most expensive patients of all. That would save the state a lot of money. A LOT OF MONEY. That way they’re not my problem any more. These old people, most of whom are twice my age, lived their entire lives and didn’t save a dime to pay for anything, and now reach their hand into my pocket to pay for their long term care. No thank you, I didn’t sign up… Read more »