-- 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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Illinois can no longer afford the luxury of expanded Medicaid subsidized or not.
25% of the Illinois budget is Medicaid. Half of that 25% are for individuals in long term care facilities.
You have made a good point. And will get worse. Illinois will soon enter financial problems and can not afford to give so many free nursing home care. By the way, illegals get free medical care also and the DEMS are committed to that insanity.
Medicaid started in 1966. In 1970 expenditures were $5.1 billion. By 2022 they were $804 billion.
That is 160 X more than in 1970.
And remember this is welfare medicine.
GREAT NEWS!
Different problem , same solution . First end all non emergency health care to non citizens without private insurance. Then end enrollment in any tax payer funded programs for non citizens.
School funding , same formula.
Housing shortage. , same.
Question, how much of this funding that could possibly end is for illegals.