-- 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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Oh, they are going to do this and we will have to pay not only for the car, the fuel, the insurance, taxes to build the road, tolls to drive on the road we paid for, but now we will likely get to pay a mileage charge on top, so our elected officials can give it to the pension system and skim some off the top for their pet contributors. Just another friggin tax that provides the tax payer nothing.
This sounds like a tariff to me.
That’s a tarrific take on it and a fine idea, too!
Another worthless piece of garbage legislation, just inviting more corruption and worthless union jobs to do nothing.