-- 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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I worked for my income. Why are my tax dollars going to fund people who put no effort into supporting themselves. They need to educate themselves, and learn a skill. Some people can’t, but there are too many people whose goals are only to take public funds as a way of life. The welfare culture needs to change.
Abolish it. It hasn’t worked for 60 years now and that will never change.
They do that with just about every public sector union employee (Worker??). The first question a new employee asks is “When can I retire?”.