-- 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
Pour Mueller from that access journalism left-wing rag, has a great piece on this. And by Great, I mean, he outs himself as the fool he is. He flippantly says “but whatevs” to Kiplingers’ opinion and then says that the graduated tax (note no one describes it as progressive anymore) would have “eventually eventually eased all those issues”….
And to this pure unadulterated stupidity, the only response we have is: Sure, whatevs you say, dummy!
This may be one reason taxes are so high.. I can’t get you there by link. Go to Better Government Association (www.bettergov.org) Click Data&Tools dropdown box click pensions. Scroll down and on left side of screen find and click State Universities(Surs) Then look at top right and click to 2020 and scroll down. First pensioner is Leslie Heffez and in a little over a month (2022) pension will be $673,801.77. Final salary $763K. Hope this works. If you scroll down on names take a look at how many make $200K plus. It takes a while. This is only SURS but… Read more »
Thanks, Kiplinger, but those of us who live in Illinois already knew that.