-- 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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Too much government is too much government whether at the state or federal level. The point being state’s like South Carolina are receiving net inflows of American citizens (note, i said “citizens” not illegal immigrants) because their economic environment is far more favorable than Illinois.
If the argument is they’re only benefitting from federal handouts, where the f*** you think Illinois would be absent those same federal handouts? Particularly in the sanctuary state that is this declining wasteland?
So sick of this fake argument. A household that worked in IL their entire lives but retires in south carolina is a leech because they receive their social security checks at a SC address. I wish they would just stop, please, just stop. There must be a talking points memo about this from the DNC, because I see this argument everywhere
“A household that worked in IL their entire lives but retires in south carolina is a leech because they receive their social security checks at a SC address”
You’re sick of this argument? Yet you constantly act as if public sector workers are leeches because they traded their labor for a pension. Yes it’s more generous but it was also well known the entire time. Public worker bad. Fat man bad.
Your comment is a non sequitur, and has nothing to do, at all, whatsoever, with my post. It’s not related at all. But yes, public sector workers ARE leeches who are fleecing the state, and pilfering the last few pennies out of my pocket.
The Truth Hurts is so ironic to someone that can’t understand that there is NO MORE MONEY !!!!! TO PAY 109k PUBLIC PENSIONS and SALARIES making more than $100k some with multiple pensions I don’t give a damn what your contract says . The state is broke and taxpayers are broke . Good luck on the fair tax bringjng in more than $1B which is drop in the bucket for the total bill You want yourself / them to be paid how about we send you the invoice for $300B sound good ? What out of State address should we… Read more »
“I don’t give a damn what your contract says”
It’s not my contract as I don’t have a pension. The state brings in more than enough money to pay pensioners and bondholders. Just not enough money for the other expenses. No need to send any invoice to out of state households as Illinois residents will be paying more. More taxes on the horizon. Why do people consistently argue with reality? Do you honestly believe pension payments will be cut before taxes will be raised?
I know exactly that they will raise taxes until every dollar has left the state . My last year my prop taxes went from $16k to $25k so I know My point is they don’t care and don’t care tax payer is getting destroyed all to pay for fraudulent promises made by corrupt bought politicians with no transparency on the process . You over and over keep saying well a contract is a contract the taxpayer must pay no matter how asinine the payouts and many are asinine …..3penions 2pensions making more in retirement than career There is no more… Read more »
“Do you honestly believe pension payments will be cut before taxes will be raised?”
You’re really good at the strawman arguments. No one believes that pensions will be cut before taxes raised. I don’t recall anyone on this board ever saying that or believing that. In fact, we all know that taxes will be raised, which is why everyone is screaming at the top of their lungs, and shaming the pension looters, to try and fix the underlying situation.
“which is why everyone is screaming at the top of their lungs, and shaming the pension looters, to try and fix the underlying situation.”
Screaming at the top of your lungs to call teachers, firefighters and police names does absolutely nothing. You have not shamed any pensioners. They will continue collecting their pension checks with their 3% increase each and every year.