-- 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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Good ole St Clair county, home of that traitorous SOB Durbin. People there should hang their heads their heads in shame as they are one of the few counties in Illinois that always vote “D”.
Hmm…..there’s a St. Clair County in Michigan too. Thank God there ain’t a Cook County in Michigan though.
I thought the way tier 2 was passed was illegal cause it wasn’t read three times on three separate days.
This is all i need to see to determine that the pension system isn’t salvageable…
https://www.taxpayereducation.org/wp-content/uploads/2021/06/2021-top-100000.pdf
If a pension was part of a reciprocal pensions under Tier 1 then legally it has to qualify. If not, then it won’t.