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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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Makes me want to puke
The average private sector taxpayer works 240 to 250 days per year. For around $65,000 per year and they work much, much harder than any public sector worker has ever worked.
You are having a gigantic attitude problem here, it seems. I’d like to think you’ve done some research here in the way of determining the socially precise meaning of “work” and “hard work” as well. How do we evaluate one versus the other? What is “work” anyway, and can there still be social and/or personal value in doing a job that is less than “work?” Please elucidate with your brilliance here so your comments can be taken seriously. Even if you knew those things with some degree of fairness in mind it would be equally nice to recognize that for… Read more »
He’s just jealous that his family member was a public sector employee and now has a 5500 sq ft house and he doesn’t. Poor Taxpayer just can’t handle that he is not the successful one in the family.
Somebody does need to put down the “brewski”, leave the barstool in the college bar, and walk out into the real world. Seems you’re not quite ready for that step.
Work 70 days for $128k + pension + raising campaign funds you can use as a slush and patronage fund + keep what’s left when you eventually exit = a bad equation for taxpayers. So much financial damage done by so few in such short time, year after year after decade. No mystery to why Harmon spent $100,001 of his own money to retain a job paying $123,300 and why he wants to keep the $9 million he may have raised outside the rules. What a racket. And ethics reform? Ha!
And for what taxation beyond belief, malfeasance and a whole host of other things for 70 days of work getting as bad as the teachers in this state, monies for nothing.
And in some cases chicks for free!
that’s the way you do it.