-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Pay people to fail, and failure is guaranteed.
I don’t want to live ANYWHERE near such people. I share ZERO values with people who willingly (and gloat) about the government taking money from their neighbor and giving it to them.
Good because even though I moved I identify as a Cook County resident. They can mail it to me out of state.
This portion of the article caught my attention.
Illinois Policy Institute (IPI), a think tank that tracks public policy decisions in the state, told Fox News Digital that “Cook County is making its guaranteed income pilot permanent and committing millions to a failed strategy already shown to leave people with less work experience and lower earnings.”
The guaranteed income program is nothing but toxic charity.
I also believe that able-bodied people who benefit from a food pantry should work at the food pantry several hours a week in return for the free food.
Years ago good ol’ Oprah took 100 of her people and gave them money, help, housing, transportation, counseling, to get out of
poverty’s grip. The year of her help went
by and guess how many were helped and off the dole. -0- , surprised?
She knew exactly what she was doing. I didn’t realize in her popular years just how brilliantly evil she was, until years later.
I did not see in the article any description of who will receive the income, how much they’ll get, and whether they’re to consider the funding permanent. Also apparently the funding isn’t linked to any particular tax source.
I’m going to opine that the money should’ve been given to beleaguered property taxpayers, not people already living off of social services to have even more “ fun money “. Let’s see in a year or so the ( if any ) positive impact more unearned income has on the underserved.
There are only two guarantees in life. You will die and government will take your hard earned dollars to give them to someone else.
My thought exactly! I don’t remember any CC Commissioner campaigning for this or any ballot question on this giveaway. No doubt the recipients of this largesse are already collecting a wide variety of public benefits.