-- 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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This federal government is mostly to blame for this. In Illinois your unemployment compensation is just under 50% of your weekly pay with a max of about $470. The feds then added $600 per week on top of this until the end of July. I’ll bet Trump and all in congress running for reelection this year will try to extend this through November so they’re aren’t 20 million angry voters out there.
It was part of the D compromise to get it through. Listen to Bernie complain about the R senators who complained about it. He was such an dork.
Hard to blame the D. Trump signed into law.
Unemployment should never be more than what you earned on the job. Wow, great benefits the goodies will end, the end of July! Hey U of I instead of promoting welfare promote what a job can do to one’s self confidence!
Welcome to the end of the republic – the takers now realize they can vote themselves a raise.