-- 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 people in the education system are not in it for education of students, but to take large salaries, benefits and pensions. Education is on the bottom of the list.
Maybe, but I could also say that about the workers for many other companies or organization I’ve had to pay at one time or another. In short, your comment likely applies with but rare exceptions to mankind in general whose workers care more about their personal welfare than the task for which they are employed. For example which is your higher priority—your company’s financial condition or your own? Your spouse wants to know, too, so be sure to show him/her your response!
Not surprised. The money means nothing to them. Getting rid of these people will likely cause, law suits and legal fees in addition to the actual miss use of public money.