-- 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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But it is an us verses them environment and has been for decades. They have created an environment when every logical member of the private sector should celebrate whenever any of them die prematurely of natural causes, for when it happens, inevitably, we the people are better off. Everytime a teacher, police officer, fireman, municipal worker, judge, count bared member, park district, township board member dies, we escape, in part, the tyrannical bondage of their benefit package. I know many are allowed for some bizarre reason to downstream a large portion of their benefits to their spouse, but at least… Read more »