-- 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 worked with a girl who at 15 had a set of twins , at 18 had a boy and at 22 was expecting another set of twins. Unmarried mind you. She looked at me and said after this set I won’t have to work again till I’m 44. Makes you wonder wtf is going on
The challenge becomes what to do about these people. Many are 2nd and 3rd generation welfare recipients. Someone with 5 kids and no father/husband is going to have a hard time working to pay for food and shelter for their kids. So SNAP, Medicaid, TANF or cash payments, and section 8 housing are on the menu. Sure we can pull these benefits but I doubt these individuals will suddenly be able to support themselves and their family. If these people try to work and better themselves, benefits are taken away. It creates a feedback loop that teaches people to do… Read more »
There are way too many able bodied people hanging out on street corners all day everyday on welfare that need to go get jobs. End of story.
20% if Illinoians on SNAP is crazy, get a job and put down the gameboy.