-- 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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Pretty soon there will be graduating college kids looking for jobs, they’re probably not collecting outsize unemployment benefits. I hope they all find jobs and I hope the unemployment leeches are left out in the cold.
The bottom line is folks are now better off on the dole, claiming unemployment, and then working private jobs on the side cash only.
I work in a retail store for minimum pay, but have a whopping 22% of my pay taken off for taxes and other things, to pay for those who sit at home who receive more cash than me.
There is no fool like an old fool.
This discounts the theory socialists put out about everyone would contribute what they are capable of doing.
The article dance around the fact that the Federal government is causing this problem with their extensions and raises of unemployment benefits. Why work when you can make enough by just staying home?
Unemployment benefits why would you go to work when you can sit home and make more money and not pay taxes, wonder why hum.