-- 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
Nice to see Trump accounts as an alternative to these plans for those starting out.
His family owned a bank where he worked. The bank failed. Isn’t that enough evidence? The markets are soaring. Illinois monies should be soaring as well. People get fired for financial misdeeds. So should Gianoullias. Must be a member of the Mayor Johnson Stupid Club!
If youre dumb enough to give the state your money to pay for college at a later date, you deserve everything you get. A 5% tax break isn’t worth the loss.
It all depends on the state. Stupid state like Illinois or smart state like VA.
Not sure Alexi knows squat about finances. Can any one ever recall a real job that he has had? If you spend your entire life living off an allowance from mommy and daddy, why bother yourself with learning anything difficult– like how to manage money. So who put this guy in a position to manage hundreds of millions?
He didn’t earn the moniker “ Alexi the Bankrupter “ for nothing.
Kinda like the job experience Mr Jumbo, the governor, had.