-- 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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Elected officials should not get a pension for their elected position(s).
This is no joke. Looting the taxpayer.
This has to stop at some point.
THe “Peter Principle” at work…in spades here!.
With Chicago who’s very existence is based on commerce/trade/manufacturing, my folks moved to and meet in Chicago after WWII from very humble mid-west backgrounds because Chicago was where the OPPORTUNITIES were at, where you could work your ass off in the Chicago of “Big Shoulders” and enjoy ‘the fruits of your labor’. Nobody worked harder, took more gigantic risks, hired a lot of folks and fought for his piece pie than my pops. They viewed public sector mopes as folks who couldn’t cut it in the real world. Now to make it in Chicago and get your piece of the… Read more »
No teacher should receive a pension with only 4 years teaching. Should only be eligible after 10 years, and should not be a full pension.
That’s what it’s all about. Work four years in public service and receive a life time reward.
They don’t do it “for the people”, they do it for the reward.
It’s not hard to imagine someone of Johnson’s intelligence wind up as a greeter at Wal Mart having blew through his money like a concussed ex- heavyweight boxer.