-- 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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Keep voting for leftists and this is what you should expect!
Vote for Democrats, pay high taxes.
The North Shore crowd may have wealth, but they don’t have brains.
The retired superintendent of the New Trier Schools district has one of the highest pensions in the State. As PPF says, pensions must be paid and by the taxpayers.
Well, Mark and other New Trier families voted in the school board to pay that high wage to the superintendent so it’s what the voters wanted. Seems like a fair contract and a fair trade of the employees labor for agreed upon compensation. All is right in the world.
You are blind if you do not see that it is going to kill the “Golden Goose”.
There should be a cap on all pensions, a fair and reasonable cap for everyone.
There already is a cap on pensions that started in 2011. However, you can’t change the contract of existing pension members to now add a cap as they are approaching retirement just because you find it unfair. The school district and duly elected board members weighed those issues and ultimately decided on a fair wage. Your desire to steal from these people isn’t allowed.
My motto for Illinois;
Stay and Pay, Leave and Save.