-- 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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How about connecting the dots between the union pensioner receiving $10k a month, for the rest of his or her life, and the dungeon like condition of Logan.
But hey, that pensioner’s got bills too – an F250 and all those water sports toys aren’t hauling themselves to the vacation home in Michigan, paid for courtesy of the tax payer!
If you get a chance check out the TRS Illinois website. Click Newsroom and scroll to Facts about 100K club and TRS Members boosts economy. and many more. Nothing mentioned that this is mostly taxpayer money they are stimulating the economy with. After all we have unlimited money for them to keep stimulating.