-- 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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African Americans make up about 13 % of the population, yet make up over 50% of murder victims. I wonder how actuaries in insurance companies factor that into life insurance rates?
They punished Sgt, Michael Vitellaro just so harshly, Vitellaro will earn an annual city taxpayer-funded pension of more than $76,000 for the rest of his life, according to records obtained by WTTW News.
At the time of his retirement, he was 51 years old,
He will collect $2,000,000 to $2,500,000 from the Chicago taxpayers. He is laughing all the way to the bank. I bet he left Illinois giving it the one finger salute.
If he lives to 85 make the total payout $4,600,000 paid by the Chicago Taxpayers.
He will get 3% annual increases every year based on the starting number of $76,000. Now that is what I call punishment for beating up a 14-year-old kid.
Why does the City even have a law department if they bend over and squeal for every bogus claim against the police?
He’s 17 now, he can now buy a Beemer and wrap it around a tree; solely, hopefully.