-- 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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So he says, with an eye on the election. Then, if the votes go in his favor, Mayor Prozac will be beating his chest again with promises to “ get dat money!”.
I’m curious where the breaking point is. At some point, when their slave like voters are squeezed hard enough, they will turn on their democrat masters. At that point do these dem politicians turn on their constituents or do they in turn revolt against their union masters? It may never happen. It may happen next year. If the dem scum turn on their union masters, those pensions may not be as secure as the pensioners think. I’m glad to be watching dumb and dumber drive the bus off the fiscal cliff from afar.
The goal here is to spend as much pension money as possible in the short time they have power. Hand it all out, and call it social justice. When the pension system is bled dry, you can throw up your hands and let the pensioners force the federal government to bail them out.
Two possibilities: solvent state legislators will block bailouts or they’ll insist on their states’ fair share … opening the floodgates of deficit spending destroying everybody’s income and savings. Public pensions will be paid in worthless dollars and those retired public servants can join the rest of us in the bread lines.
Once again, nobody wants to make the pension payment.
Congratulations, public unions. You spent decades thinking you were building your power. In reality you spent years creating your own competitors for public funds. Morons.
Now go out and protest to keep all the illegals here. It’s what you do.
The Mayor is indifferent to pension solvency–he’d rather direct money to building housing on the south and west sides for his constituents and provide economic gains to illegal migrants, including rapists. The pension house of cards will fall sooner without the advance payments–so what? It’s not his pension.
It’s looking like Harvey may be an early test case for Chicago. It’ll be fun to watch from afar. Make sure you get those well earned pensions paid. The rest of you? You’re on your own. For what you are about to receive, be thankful that your masters have your best interests at heart.
That’s right, Pinhead. Short the pensioners-again. The pension debt is a significant part of the reason Chicago is in this pinch-along with all the money you’re blowing on the illegals.you seem to care more about than your own citizens.
“We will not be burdened by the past.”