-- 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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The question should be is it time to eliminate all entitlements in Chicago?
Entitlements are no different than “first one is free”… All they do is create even more unbreakable reliance on more, more, more.
It is embarrassing in the face of so much data and history that these goofs think MORE is the answer.
Interesting and raising in my mind who is going to be hit with new taxes to pay for it all? My thoughts also include that the ones taxed more will be moving out adding to the decline of the City faster than it already is.
Is it time for a Government Debt for Dummies public service educational initiative in Chicago?
Funny stuff. Imagine if the founders were faced with this delema?
LOL…only in Illinois brought to you by the Illinois voters.
Things never change
10 million jobs available! Find a job and better yourself No hand outs.
“Give me a fish i will eat for a day, Teach me to fish i will never go hungry”
The name of the program is ” Gibs Me Dat”. More free stuff to follow and as president PotatoHead says “It wont cost the taxpayers one cent”.
Now that I moved, sure basic income for all victim classes of Chicago.
Here’s an interesting article
https://www.washingtonexaminer.com/opinion/editorials/biden-is-driving-families-apart
In Chicago, the cost for a total lead service line replacement is $27,000 per line (never mind that cost is much cheaper elsewhere). So nearly 1,200 lines could be replaced instead. Too bad it’s more trendy to complain about lead pipes and pay people $500/mo to continue living in homes with lead pipes than to actually fix the lead pipes.
Are there any residency requirements to qualify? Friends and friends of relatives? This couldn’t possibly be a vote buying program, an honest Democratic would never tolerate or participate in such a transparent scheme.
Ald. Gilbert Villegas disingenuously compares his father’s hard-earned survivor benefits with unearned free money to baby mommas. It’s a big lie that the two are even remotely comparable. The article just goes down hill from there and becomes a glowing review of free money for everyone!
Right, this doesn’t make sense. His dad worked, which means he most likely contributed to Social Security, then, upon his death, his surviving children received a death benefit under the existing rules of Social Security Survivors Benefits. That’s not a handout, it’s a benefit subsidized by everyone who participates in Social Security.
“it’s a benefit subsidized by everyone who participates in Social Security”…
That his father earned by contributing to social security for a number of years before he passed away.
Simply giving away free money will be wildly popular, I assure you!