-- 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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Thank you SCOTUS for the Janus ruling
All this headline means is that generous government benefits allow them to retire early.
So your contention is that these employees retired early and the state didn’t hire any as a replacement? That’s great news! The state will save massive amounts of money.
Then again, maybe the articles point around the Janus decision has something to do with it. Maybe these people decided to stop paying their dues and are no longer union members. Reading is fundamental old Joe.
The do not teach reading in the CPS.